📉 DOGE Futures Open Interest Drops Significantly

According to Foresight News and Glassnode data, the open interest in DOGE futures has declined sharply, now sitting at $1 billion, a considerable drop from the average $3 billion observed in November and December 2024. While the seven-day moving average of futures trading volume has shown an uptick from its recent lows, it’s still hovering near levels last seen in October 2024.

This decline in open interest could signal a decrease in market confidence or reduced speculative activity surrounding DOGE, possibly due to broader market sentiment or regulatory factors. On the other hand, the rise in trading volume may indicate a consolidation phase or potential buildup for future moves. Traders will be keeping a close watch for any reversal in this trend.

Will DOGE see a resurgence, or is this the start of a prolonged cooling period? Time will tell. 🔄🧐

2024.
DOGE