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Dogecoin Open Futures Bets Surge to Record 16B DOGE as Prices Top Downtrend Line
The record open interst suggests a potential volatility boom ahead.
Jul 18, 2025, 7:02 a.m.
What to know:
- Dogecoin futures have reached a record 16.24 billion DOGE in open interest, marking a 48% increase this month.
- The price of Dogecoin has surged 47% to over 24 cents, breaking past a bearish trendline.
Futures tied to are hotter than ever as prices for the joke cryptocurrency surge past a bearish trendline.
The cumulative open interest in the standard and perpetual futures listed worldwide has risen to a record 16.24 billion DOGE, around $4 billion worth of tokens at current prices, up 48% for the month, according to data source Coinglass. The previous record of 14.31 billion DOGE was hit in January this year.
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Open interest refers to the number of active or open contracts at a given time. A rise in open interest alongside a rise in price is said to confirm the uptrend. Moreover, DOGE's perpetual funding rates hold positive, indicating a growing demand for leveraged bullish futures bets. An increased demand for leveraged bets often leads to heightened price volatility.
DOGE's price has rallied 47% to over 24 cents this month, surpassing the trendline that characterized the steep sell-off from the December high of around 48 cents, according to data from TradingView.
The breakout indicates the path of least resistance is now on the higher side. Prices have also topped the 200-day simple moving average to suggest a renewed bull market.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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