Dogecoin Futures Open Interest Hits New High at 16.24 Billion DOGE as Price Breaks Key Downtrend
Dogecoin futures activity is heating up as prices climb above a long-standing bearish trendline, signaling a possible surge in volatility.
Data from Coinglass reveals that total open interest across all DOGE futures contracts worldwide has reached an all-time high of 16.24 billion DOGE—worth around $4 billion at current prices. This represents a 48% increase this month, eclipsing the previous peak of 14.31 billion DOGE set in January 2025.
Open interest measures the number of outstanding contracts and, when rising along with price, typically confirms a bullish trend. Funding rates on DOGE perpetual contracts remain positive, reflecting growing appetite for leveraged long positions that could drive more volatile price swings.
DOGE’s price has gained 47% in July, breaking above $0.24 and overcoming the downward trajectory that started after the December 2024 high near $0.48, per TradingView data.
The token’s break above the downtrend line and the 200-day simple moving average suggests that bulls are back in control, with upside momentum likely to continue.
