Dogecoin Open Interest Hits New ATH – Here’s What Happened The Last Time

Dogecoin has hit a new milestone after rallying more than 20% last ￰0￱ meme coin saw its open interest balloon over the weekend as investors poured in to take advantage of the price ￰1￱ pushed its open interest quickly, and now, it has reached a new all-time high for the second time this ￰2￱ Open Interest Crossed $6 Billion According to data from the on-chain aggregation website Coinglass, the Dogecoin open interest has now crossed $6 ￰3￱ increase happened over the weekend following the Dogecoin price hitting $0.3 for the first time in over six months. Coincidentally, the open interest will hit its highest level in over six months as ￰4￱ Sunday, the total open interest came in at $6.01 billion, marking a new peak to beat its January 2025 ￰5￱ in January, when the crypto market was still reeling from the surge that began back in November 2024, the Dogecoin open interest had risen to $5.51 billion and remained that way, despite the May 2025 ￰6￱ rise to a new all-time high in open interest is a direct representation of the interest that the meme coin is now seeing from crypto ￰7￱ is because open interest takes into account all of the long and short contracts in the ￰8￱ means that crypto traders are placing more bets on the Dogecoin price, depending on the position they believe that it is headed in ￰9￱ Long/Short ratio on the website shows that crypto traders are favoring the Dogecoin price to decline during this ￰10￱ ratio comes in 0.9161, with 47.81% of traders betting on a price increase and 52.19% of traders expecting the price to keep ￰11￱ Happened After The Last Open Interest Peak?

Looking at the Dogecoin open interest chart, it paints a clear picture of what happens each time it hits a new all-time ￰12￱ the January peak, the open interest had begun to decline, and the Dogecoin price had followed ￰13￱ led to a multi-month accumulation trend that ended toward the end of the 3rd quarter of the ￰14￱ this trend holds, then it is likely that the current Dogecoin correction is only the ￰15￱ is possible that another accumulation trend could follow and would end during another market ￰16￱ last time saw an over 60% decline in open interest before a bottom was found, and Dogecoin was able to regain its bullish strength again.