Dogecoin’s Wild Ride: When “To the Moon” Meets “To the Ground”

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Oh, sweet summer child, the Dogecoin (DOGE) price has decided to throw a fire sale and forget to invite the buyers. Looks like the meme coin’s GPS is set to “max pain,” because nothing says “vibes” like watching your investment plunge while the futures market coughs up a hairball.

Dogecoin open interest falls

Dogecoin’s open interest took a nosedive, shedding 7% in 24 hours. According to CoinGlass, a staggering 11,110,000,000 DOGE (worth a cool $1.02 billion) is now stuck in the futures market. Congrats, traders-you’ve basically bought a one-way ticket to Panic Town. Population: You.

Let’s not forget Dogecoin’s knack for drama. The derivatives market? Now a reality show starring Binance and Bybit. Binance lost 2 billion DOGE in open interest (because nothing says “stability” like a crypto rollercoaster), while Bybit tried to play hero with a 4% uptick. Spoiler: Bybit controls 8% of the market. This is the financial equivalent of bringing a spatula to a sword fight.

DOGE’s open interest is the market’s favorite gossip column. But right now, it’s just whispering, “Run while you still can.” The coin’s trading at its cheapest since 2021, and no, your grandma’s “buy the dip” advice isn’t helping.

Dogecoin ETF makes no difference

At press time, DOGE was trading at $0.0922-a 4.17% drop. The 30-day chart? A downward spiral so dramatic it could star in a Taylor Swift music video. The Dogecoin ETF, hailed as the messiah at launch, has raised less than $10 million. Congrats! It’s the Wall Street version of a participation trophy.

With fundamentals drier than a Ryanair pretzel, DOGE now clings to Bitcoin like a groupie at a concert. If Bitcoin sneezes, Dogecoin catches pneumonia. That’s the circle of meme life.

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2026-02-24 19:28