Market Overview - The cryptocurrency market is experiencing a significant downturn, leading to a decline in investor confidence, particularly affecting Dogecoin (DOGE) [2] - The total open interest for DOGE futures contracts has dropped by 8.24%, with active open futures contracts falling to 1.516 billion DOGE (approximately $3.25 billion), marking the lowest level since early August [2] Dogecoin Performance - Dogecoin's price has seen a substantial decline, with a 4.4% drop in the last 24 hours, currently priced at $0.2121 [4] - The decrease in open interest for DOGE futures highlights a reduction in investor confidence, as contracts have either been liquidated or traders are closing positions to hedge against further losses [5] Market Sentiment - There is speculation that the overall cryptocurrency market may be entering a bearish phase, with investors showing caution towards investing more in the DOGE derivatives market [4] - Historical trends suggest that a continuous decline in open interest often leads to more severe market downturns, raising concerns among investors despite some analysts predicting a potential recovery for DOGE [7]
32.5亿资金疯狂出逃狗狗币！DOGE未平仓合约暴跌8.24%，熊市已定？
Sou Hu Cai Jing·2025-08-20 06:55