Oh, how the mighty meme coin has crumbled! Dogecoin (DOGE), once the life of the crypto soiree in October, now finds itself nursing a hangover as Open Interest and trading volume nosedive with the grace of a soggy soufflé. CoinGlass, that most persnickety of data curators, reports a dramatic retreat from speculative fervor-traders, it seems, have swapped their champagne flutes for decaf. One might say the “meme coin’s moment has melted into the ether.” 🎩☕
Dogecoin’s Open Interest: A Grand Exit from the Ballroom
Open Interest, that most dramatic of market indicators, has plummeted over 60% from its October crescendo. What was once $5.03 billion in futures contracts? Now a paltry $1.88 billion-enough to buy a small island and retire from crypto entirely. Binance, BitMEX, and Bybit cling to their thrones, but even these titans can’t outshine the exodus. KuCoin and Bitget, meanwhile, are hosting a “Goodbye, Farewell” tea party as their numbers dip by percentages that would make a Victorian dowager gasp. 🏰📉
And let’s not forget Binance, which once presided over a $964.7 million DOGE feast. Now? A modest $380 million-a 60.6% crash that would make a penguin waddle with shame. One might ask, “Where did all the leverage go?” The answer, dear reader, is in the ether. 🐾💸
Volume: The Final Curtain Call
If Open Interest was the guest list, trading volume is the champagne-both now in short supply. From a $20.45 billion high on October 11 (a post-crash panic, if you will), Dogecoin’s volume has shrunk to $5.31 billion. A 74% drop! CoinEx and Gate.io lead the retreat, while Binance and OKX sip lukewarm tea as their numbers shrink. Yet, dYdX and HTX dare to defy the trend-perhaps they’ve mistaken this for a comeback special. 🥂📈
As for DOGE’s price? It’s currently trading at $0.20, a 13.19% slump over 30 days. One might call it a “modest correction,” though “modest” is a word that no longer applies to crypto. Still, the coin clings to hope like a Victorian maiden to her last glove. 🕊️💸
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2025-10-29 00:42