- Dogecoin price has stalled near $0.25, but a 63% surge in Futures Open Interest shows traders are still betting on a big move.
- While momentum is cooling, DOGE holds key support, keeping hopes of another breakout alive.
After a stellar rally, Dogecoin (DOGE) appears to be catching its breath — but if Futures data is any indication, the market might just be gearing up for another wild ride.
Over the past week, memecoins have staged a dramatic comeback, reviving a sector that thrives on hype and volatility. From Pepe (PEPE) to dogwifhat (WIF), several tokens have surged, fueling renewed social media chatter and trading activity. Yet, amid this memecoin revival, Dogecoin — the original — finds itself in a curious spot
Also read: Altcoin Oscillator Hits 38%: Will a 50% Breakout Spark Altseason and Push Ethereum to $3,250?
Despite DOGE cooling off near the $0.25 mark, Futures Open Interest has exploded by over 63%, soaring from $989 million to $1.62 billion, according to data from Glassnode. This spike suggests a major uptick in speculative activity, even as price action remains subdued. In simple terms: traders are betting big, but the price hasn’t caught up — yet.
This divergence could signal one of two things. Either a breakout is brewing, or the market is getting ahead of itself. Technical indicators offer mixed signals. The Relative Strength Index (RSI) currently hovers just below the overbought zone at 69, while the On-Balance Volume (OBV) has dipped — a sign that buyer conviction may be waning.
Still, DOGE remains comfortably above its $0.22 support level. A decisive move above $0.25 could reignite bullish momentum, while failure to break that ceiling might trigger a short-term pullback, especially if high Open Interest isn’t matched by actual trading volume.
Meanwhile, other memecoins are stealing the spotlight. PEPE and WIF led in terms of percentage gains, while SHIB and BONK also posted solid double-digit weekly returns. Lesser-known tokens like Fartcoin (FARTCOIN) and Official Trump (TRUMP) saw mixed results, highlighting selective optimism in the sector.
For Dogecoin, the path forward hinges on whether speculative bets translate into real demand. With momentum cooling but interest building, DOGE is once again at the center of the memecoin narrative — waiting for its next move.