Forecast Trend Report by Period
Dogecoin futures open interest has surged while the token’s price gain has remained relatively limited.
On April 27, crypto on-chain analyst Ai wrote on X, formerly Twitter, that Dogecoin futures open interest on Binance had risen about 40% over the past five days.
Since April 23, open interest has increased to 3.23 billion DOGE from 2.31 billion DOGE, a gain of about 920 million DOGE.
Over the same period, Dogecoin rose by no more than 5%, suggesting a mismatch between the pace of derivatives position-building and the price move.
Open interest refers to the volume of futures contracts that remain outstanding and serves as a gauge of leveraged positioning in the market.
Ai said the trend was prompting questions about whether someone was trying to deliberately move the market.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
