$1,160,000,000: Dogecoin OI Drops Hard as Price Correction Continues
Analysis
Price Impact
HighThe significant drop in dogecoin futures open interest (oi) by 8.7% ($1.16 billion) indicates a strong withdrawal of leveraged positions by traders. this, combined with an increase in trading volume and the price retesting multi-month lows at $0.10, suggests active selling and repositioning out of long positions, exerting high bearish pressure.
Trustworthiness
HighThe data is sourced from coinglass, a reputable provider of derivatives market data. the interpretation of declining futures oi during a price correction as a bearish signal is standard market analysis.
Price Direction
BearishThe continuous price correction, coupled with futures traders actively withdrawing positions and the price retesting a multi-month low of $0.10, strongly indicates a bearish trend. the rise in options oi but plunge in options volume suggests hedging against further drops rather than bullish speculation.
Time Effect
ShortThe reported declines in oi and price correction have occurred 'over the past day' and reflect immediate trader reactions to current market uncertainties. while part of a 'prolonged downturn,' the specific repositioning and liquidations are short-term market dynamics.
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Article Content:
Cover image via U.Today Read U.TODAY on Google News Dogecoin futures traders withdraw their positions Dogecoin options open interest rises 6% Advertisement Despite the brief pause in the prolonged crypto market downturn seen early yesterday, Dogecoin (DOGE) has resumed its price correction, and this negative market condition has extended to its derivatives market. As of Wednesday, Feb. 4, data from CoinGlass shows that the largest meme asset by market capitalization, Dogecoin, has seen its futures open interest decline by 8.7% over the past day. Dogecoin futures traders withdraw their positions The massive decline in Dogecoin open interest shows that futures traders are increasingly withdrawing their positions amid the growing uncertainties seen across the broad crypto market. HOT Stories Morning Crypto Report: Dogecoin (DOGE) Rises on Musk's Wealth Record, Ethereum (ETH) Eyes 24% Rally, Cardano (ADA) Dethrones Bitcoin Cash and Hyperliquid From Top 10 Crypto Market Review: Shiba Inu's (SHIB) 1,000,000,000,000 Bull Market Trigger, Bitcoin (BTC) Crash Might Stop Here, Is Dogecoin (DOGE) in Mini-Bull Market? Nonetheless, the data further shows that the total number of active futures contracts involving Dogecoin that have not been settled has dropped significantly to 10.84 billion DOGE worth about $1.16 billion. Advertisement You Might Also Like Wed, 02/04/2026 - 10:45 Dogecoin Founder Bashes Saylor Over His Bitcoin Market Satoshi Tweet By Yuri Molchan With this massive decrease in the number of DOGE tokens committed over the last day coinciding with a massive increase of over 43% in its trading volume, it appears that Dogecoin traders are not entirely dormant, but they are actively repositioning in major attempts to close leveraged positions rather than open new ones. Furthermore, the broad market sell-off has seen Dogecoin decline notably in its price, retesting its multimonth low of $0.10. As such, the declining open interest metric shows that Dogecoin traders are being cautious amid the heavy price pull back. Advertisement Dogecoin options open interest rises 6% While the Dogecoin overall open interest volume has plunged significantly amid prolonged crypto market volatility, its options open interest has moved in the opposite direction during the same period. The data shows that options open interest has surged by nearly 6%; meanwhile, the options volume has plunged massively by 52.69%. This signals a mix of resilience and caution as it appears that traders across all exchanges, including Binance , may be holding firm to existing hedges but are reluctant to open new positions amid the looming uncertainties. #Dogecoin #Dogecoin Price Prediction #Binance