DOGE’s Future Uncertain as Open Interest Plummets

Amidst a significant decline in open interest, the future of Dogecoin (DOGE) appears uncertain, raising concerns about its price stability.

Dogecoin Open Interest Crashes, DOGE Price at Risk

Dogecoin’s open interest has suffered a further crash, sparking a bearish outlook for the meme coin. According to Coinglass data, the open interest is currently at $1.57 billion, significantly below its January 18 peak of $5.42 billion and also lower than levels recorded in December 2024. This decline indicates that traders are currently avoiding trading or investing in Dogecoin, which could lead to a further decline in the Doge price.

Dogecoin at Risk of $200 Million Liquidation

Dogecoin is facing potential liquidation of $216 million worth of long positions if its price declines to $0.150. This price is close to its current critical support of $0.164. If Dogecoin drops below this level, the liquidation could fuel further sell-offs and bearish sentiment, discouraging new investments. The threat of liquidation looms as the price hovers NEAR critical support levels, which may prompt traders to exit positions, exacerbating the downtrend.

Dogecoin Faces Make-Or-Break Support Level

Dogecoin is trading at critical levels after enduring several days of sustained selling pressure and failing to break above the $0.18 mark. The meme coin is down 65% from its multi-year high of $0.48, and sentiment remains underwhelming. Investors are cautious, and bulls are struggling to regain control. Macroeconomic uncertainty, rising geopolitical tensions, and trade tariffs are shaking global markets, pushing risk-on assets like cryptocurrencies deeper into correction territory. In this environment, volatility and instability are becoming the norm, particularly for highly speculative assets such as Dogecoin.