Dogecoin Open Interest Declines 67% In Three Months – Can Meme Coins Recover?
After two weeks of huge sales pressure, Dogecoin traded at key demand levels at key demand levels, with the bear lowering Doge by more than 30%. The meme coin industry has suffered the biggest hit in the corrective measures that started in mid-January, and as a market leader, Dogecoin has suffered the biggest pain.
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Investors have begun to question the sustainability of Meme Coin Rally, especially as sentiment weakens across the board. The GlassNode metric confirmed this downward trend, indicating that Dogecoin’s open interest has dropped by 67% over the past three months.
With Doge now at a critical level, traders are looking at whether the Bulls can step in to maintain support and raise prices. If the buying pressure returns, Dogecoin can begin strong recovery rally, but if the trend continues, further liquidation and loss may occur. The next few days will be crucial as investors evaluate whether Doge can recover or prolong its decline in this volatile market.
Dogecoin faces selling pressure
After this week’s market segmentation, Dogecoin has worked hard to restore key price levels and is still facing serious risks of further declines. The meme coin industry has been one of the strictest regions in the cryptocurrency space, with analysts blaming speculative meme coin trading on a key factor in broader crypto corrections. As emotions fade, moral and other meme coins continue to lose their ground and cannot recover from the massive sell-off.
Top analyst Ali Martinez Shared glass section data on X Dogecoin’s open interest has dropped by 67% over the past three months. Open interest has dropped from $4.07 billion in history to $1.33 billion today, highlighting the loss of interest from traders in the Governor, a speculation that has been dry. The data confirms the negative environment around meme coins, and as a market leader, Dogecoin is setting the tone for the entire meme department, which continues to struggle.
To restore momentum, the Bulls must step in and defend critical demand levels. Breakthroughs below current support could lead to greater sales pressure, while recycling of higher resistance levels could mark a potential recovery rally. With open interest and volume declining, Dogecoin remains in a key position, and the next few weeks will determine whether the Bulls can regain control or whether the downward trend continues.
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Doge
After weeks of underpricing, Dogecoin (Doge) is currently trading at $0.21. The bears remain in control and momentum continues to push the price to a lower level, making it difficult for the bulls to gain strength. Doge has been on a steady downward trend and strives to gain appeal as Meme Coins faces increasing market sales pressure.
If the Bulls want to regain control, Doge must push it up to $0.24 and use it as support. Retraction of this level will indicate short-term intensity and may trigger relief gatherings towards higher resistance areas. However, as market sentiment remains bearish, a breakout seems unlikely unless overall conditions improve.
The downside is that if Doge fails to maintain its current level, it can be expected to drop to $0.15. This level represents an important psychological and technical support, but during this cycle, the lost level will put Taoist in unknown areas. With the decline in open interest and liquidity drying up, the bulls need to step in quickly, otherwise the downward trend may accelerate.
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The next few days will be crucial as Doge tries to stabilize or continue to bleed. If market conditions remain weak, further downward pressure could push the door to an even lower demand zone.
