Summary
- Glassnode reported that the perpetual futures open interest (OI) for Dogecoin (DOGE) surged 63% recently.
- Despite the decline in Dogecoin's price, it was analyzed that speculative buying interest still exists.
- Currently, Dogecoin's open interest amounts to $1.62 billion, indicating that investors are continuously paying attention.
The perpetual futures open interest (OI) for Dogecoin (DOGE) has surged significantly.
On the 13th (local time), Glassnode stated on X (formerly Twitter), "Despite the recent decline, Dogecoin's open interest continues to rise," adding, "Over the past week, open interest has surged by about 63%." According to the data, Dogecoin's open interest rose from $989 million to $1.62 billion over the past week, marking a 63.9% increase.
Glassnode added, "This indicates that speculative buying interest still exists despite the weakening upward momentum," and noted, "It is worth keeping an eye on."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
