Dogecoin Open Interest Plunges 58%: How Do Shiba Inu & Pepe Compare?
Data show that Dogecoin open interest has seen a big decline lately. This is the comparison of trends, shiba inu and other adults.
Dogecoin has witnessed a decline in open interest recently
In the new postal On X, analytics firm GlassNode discusses the latest trends in various open interests aldult In the cryptocurrency field.
this”Open interest“Here is an indicator that tracks the total positions associated with a given asset currently open to all derivatives exchanges.
First, here is a chart showing the trend of Dogecoin’s 7-day moving average (MA), the original meme-based token:
As can be seen in the above chart, Dogecoin’s 7-day MA valued at $3.5 billion in December, but since then, speculative interest around the asset has plummeted as it has dropped to just $1.49 billion today as it has only dropped to $1.49 billion today. . This means a decrease of about 58.4%.
But, as the second chart shared by the analytics firm shows, Doge is not the only memorial to experience futures experience.
From the chart, it is obvious that Pepe (Pepe), Bonk (Bonk) and Dogwifhat (Wif) have all seen an empty interest over the past few months. For all of this, the decline is even more obvious than Doge’s decline, as the metric dropped by more than 69% for them.
Shiba INU (Shib) and Floki (Floki) followed suit, with metrics down 74% and 69% respectively.
Although speculation in the futures market has been studied in depth across the entire membership, it seems that trends in other regions of the cryptocurrency industry seem to be different.
Here is a chart shared by the analytics company in another x postalThis shows how to compare percentage changes in open interest based assets and three top coins (Bitcoin (BTC), Ethereum (ETH) and SOLANA (SOL) (SOL)):
As shown in the above chart, Bitcoin, Ethereum and Solana have 11%, 23%, and 6% lower in the metric system, respectively. Apparently, this is significantly below the 52% crash observed in the Memecoin market sum.
Door price
Domycin has been locked Side movement In the past few weeks, the price is still around $0.25.
