๐ Dogecoin Frenzy Returns โ OI Blasts Past $3B
On August 12, traders surged back into Dogecoin, pushing its futures open interest beyond $3 billion, according to CoinGlass and market sources.
The token surged to $0.25, and traders gained 4.10% and market value jumped about 4%.
Short-term purchasing increased derivatives exposure, bringing DOGE back into the news.
Open Interest Exceeds $3 Billion
According to reports, futures traders invested 14.4 billion DOGE in positions in one day, matching the $3.41 billion open interest reading at $0.25.
That statistic is shocking since it suggests a lot of DOGE is in unpaid contracts, not simply spot wallets. Some traders perceive increased optimism.
Rising open interest and price generally indicate fresh money, and many market observers are seeing that today.
However, derivatives activity on several platforms has lagged OI, making the gain vulnerable if momentum fades or a major position reverses.
Futures activity fell as OI rose, indicating traders are holding positions rather than rotating them, according to exchange statistics. That increases the likelihood of strong emotion swings.
Other market commentators say a clean break and increased trade volume are required to reach that aim.
Traders Should Next Watch
Based on data, monitor financing rates, options flow, and futures volume growth with open interest.
Sudden liquidation surges may cause swift reversals, and funding rate patterns will reveal whether longs are paying to retain positions.
Memecoins follow significant market fluctuations, so watch Bitcoin. Bullish argument acquires weight if price and OI rise with higher volume. This move seems weak if OI increases and volume decreases.
Dogecoin's $3.41 billion open interest and $14.41 billion DOGE commitment to futures indicate increased trading interest.
