Dogecoin Leads Futures Market with 5% OI Rise, Outpacing BTC, ETH, and XRP
According to CoinGlass data, Dogecoin (DOGE) has overtaken Bitcoin, Ethereum, XRP, and Solana in futures market activity. Over the past 24 hours, Dogecoin's futures open interest (OI) rose 5.09% to $1.79 billion, while daily futures volume surged 81.62% to $3.99 billion. In contrast, Bitcoin's OI fell 0.36%, Ethereum's rose only 0.94%, Solana dropped 5.96%, and XRP fell 2.52%. This divergence highlights Dogecoin's strong short-term momentum despite a broader market decline, with DOGE trading near $0.11328, up 1.03% in 24 hours. Traders are increasingly taking leveraged bets on DOGE, while reducing exposure to larger assets. However, elevated open interest also carries risk, as forced liquidations could amplify losses if DOGE loses key support around $0.11. Technical analysis shows Dogecoin breaking out of a descending channel on the daily timeframe, with next targets at $0.135, $0.153, $0.182, and $0.206.
Key facts
- Dogecoin futures OI rose 5.09% to $1.79 billion, outpacing BTC, ETH, XRP, and SOL.
- DOGE daily futures volume surged 81.62% to $3.99 billion.
- DOGE price up 1.03% to $0.11328, while BTC and ETH fell ~1.46%.
- Traders increase leveraged bets on DOGE amid reduced risk appetite elsewhere.
- Technical breakout from descending channel; next targets $0.135–$0.206.