Dogecoin Derivatives Market Open Interest Plummets 75% from September Peak
- Open Interest Decline: According to CoinGlass, Dogecoin futures open interest plummeted from nearly $6 billion in September to around $1.2 to $1.4 billion by December, marking a 75% reduction that indicates a mass exodus of leveraged traders, potentially amplifying future price volatility.
- Reduced Market Participation: Binance's DOGE futures open interest fell from approximately $1.15 billion in mid-September to below $300 million recently, reflecting a significant decrease in market participants, which further weakens liquidity.
- Increased Volatility Risk: The decline in futures positioning has fundamentally altered Dogecoin's liquidity profile, as fewer leveraged participants mean that individual transactions can more easily impact the market, leading to sharper price swings.
- Weak Market Foundation: The current derivatives market operates with only one-fifth of the capital commitment observed at peak levels, indicating a substantial drop in market activity compared to the summer months, resulting in reduced price discovery efficiency and wider spreads.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE) As of , Dogecoin (DOGE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Dogecoin (DOGE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0457 | 0.0629 | 0.0817 | 0.0988 | 0.118 | 0.135 | 0.153 |
| Fibonacci | 0.0629 | 0.0766 | 0.0851 | 0.0988 | 0.113 | 0.121 | 0.135 |
About DOGE
About the author
