Dogecoin Open Interest Plunges 58%: How Do Shiba Inu & Pepe Compare?

It’s interesting to see the significant drop in Open Interest for Dogecoin and other memecoins. This indicates a decrease in speculative interest in these assets on the futures market. On the other hand, more established cryptocurrencies like Bitcoin, Ethereum, and Solana have seen smaller declines in Open Interest, suggesting a different trend in investor behavior.

As for Dogecoin’s price, it has been relatively stable around $0.25 in recent weeks. It will be interesting to see how the Open Interest trend and price movement for Dogecoin and other memecoins evolve in the coming days.