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 After several weeks of active trading in early October, Dogecoin (DOGE) are facing The market cooled sharply. Data from CoinGlass shows that both open interest (OI) and trading volume of Dogecoin futures have dropped significantly, indicating that the meme coin’s momentum has weakened sharply. Latest data display , derivatives activities and spot market participation fell sharply, suggesting traders may be exiting speculative positions as volatility subsides. Dogecoin open interest plunges more than 60%Dogecoin’s open interest has fallen sharply from its October highs, reflecting leverage trader Evacuate quickly market. According to data from CoinGlass, the total open interest in Dogecoin futures on the exchange has dropped from a peak of $5.03 billion on October 7. fall More than 62% to US$1.88 billion on October 28. This means that the total number of Dogecoins has dropped to approximately 9.41 billion, each worth $0.20. Despite the decline in open interest, Binance, BitMEX and Bybit are still the most active exchanges for Dogecoin futures trading。but , positions on major exchanges generally declined. Kucoin The largest drop in recent hours was 3.1%, followed closely by Bitget, which fell 2.27%. In the past 24 hours, Bitunix's holdings fell the most, falling 15.86%, while Crypto.com fell 7.36%.  Even Has been leading the way in Dogecoin futures trading Binance also saw a significant pullback. CoinGlass reports that the exchange’s open interest It reached a peak of $964.7 million on October 7, setting a new monthly high. That number has since fallen to $380.29 million (1.9 billion Dogecoin), a 60.6% plunge in just three weeks. Dogecoin trading volume declines more seriouslyDogecoin’s trading volume mirrors the plunge in open interest. CoinGlass data show , Dogecoin’s futures trading volume heat maps on major cryptocurrency exchanges are all in the red zone. On October 10th the devastating Total trading volume after cryptocurrency flash crash It soared to US$20.45 billion on October 11, but plummeted to US$5.31 billion as of October 28, a drop of 74%. Regarding various exchanges, Binance Dog Coin trading volume Down 9.35% in the past 24 hours, OKX trading volume fell 13.69%. CoinEx’s trading volume dropped the most, at 26.1%, followed by Gate.io, at 23.94%. Popular exchanges such as Bitget, Kucoin and Bitunix also experienced varying degrees of declines of 4.96%, 20.37% and 13.16% respectively. Overall market liquidity has weakened。 However, a few exchanges bucked the trend and rose slightly. dYdX’s Dogecoin trading volume surged 167.61%, HTX rose 49.93%, Hyperliquid up 23.88%. Bybit and MEXC also rose slightly by 24.98% and 1.88% respectively. CoinGlass pointed out that in addition to the decline in trading volume, Dogecoin Price Performance There has also been a decline. Currently, the meme coin is trading at $0.20, down 13.19% in the past 30 days and down 2.86% in the past 24 hours.  Brothers, if you feel desperate or confused in the current currency circle, I hope this article of mine can help you! The bull market is still here, and now is the golden period for planning. Scan the QR code below to follow our footsteps and seize the wealth code together, welcome the upcoming bull market, and realize our dream of wealth and freedom together! Group content: 1. Seize the opportunity to build a position in the next three months, lead everyone to transcend social strata, and gain the opportunity to gain wealth! 2. Share the short-term band opportunities and long-term investment strategies of altcoin spot to help you make steady profits! Welcome to chat with me privately → WeChat: sui3786 Backup: 3073259620, scan the code below!  |
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