Dogecoin’s open interest fell 2.4% over the past 24 hours to $959 million, reflecting a slow weekend where most digital assets traded in the red. The drop comes alongside a broader market selloff that pushed total liquidations to $141 million.
At press time, DOGE was down 2.20% in 24 hours to $0.073 and off 12% for the week. The decline is part of a rougher stretch: Dogecoin hit a low of $0.071 on June 23, its weakest level since November 2023. The token is down nearly 27% in June alone.
What’s pulling crypto down? A few factors. Spot ETF outflows continue. The Fed remains hawkish. And investors are rotating toward equities tied to the AI boom, leaving risk assets like Dogecoin on the sidelines.
Is there a recovery path? Not an obvious one in the near term. The first half of 2026 has been unkind to crypto broadly, and Dogecoin — always more volatile than Bitcoin — tends to get hit harder in downturns. Open interest dropping generally means traders are closing positions rather than opening new ones. That’s not a bullish signal.
That said, $959 million in open interest isn’t nothing. There are still substantial positions on the table. If macro conditions shift — particularly around rate expectations or geopolitical risk — a relief bounce is possible. But calling a bottom here would be guessing.
