Memecoin Shakeout: Dogecoin Open Interest Drops 58%—Is the Hype Fading or Just Resetting?
Speculation is cooling fast in memecoin land. According to fresh data from Glassnode, Dogecoin's open interest has plunged by over 58%, falling from a $3.5 billion high in December to just $1.49 billion today. But DOGE isn’t alone—other memecoins are feeling the chill too.
The Great Futures Flush: Memecoins Take a Hit
This isn’t just a$DOGE
Dogecoin story. $PEPE
even $BONK
BONK, and WIF have all seen even steeper declines in futures market activity—each down more than 69%. Shiba Inu (SHIB) is down 74%, while Floki (FLOKI) follows close behind at 69%.
The trend is clear: speculative interest is draining out of memecoins at a rapid pace.
But Not All Crypto Is Cooling Down…
While memecoins see a deep freeze, Bitcoin, Ethereum, and Solana have proven far more resilient. Their open interest has dipped just 11%, 23%, and 6% respectively—a far cry from the 52% average drop across the meme sector.
So What’s Next?
With Dogecoin’s price locked in sideways action around $0.25, and open interest tanking, the memecoin market is clearly at a crossroads.
Is this the start of a long-term fade—or a healthy reset before the next leg up?
History has shown that meme assets often thrive in waves. This could be a cooling-off phase before fresh narratives emerge—or the beginning of a broader
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