Speculation on dogecoin is back to October 2025 levels. The price is down 70%
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Dogecoin’s price has fallen nearly 70% over the past year to about 7 cents, even as leveraged futures speculation has surged. Open interest in DOGE futures hit about $1.21 billion, with speculative positions in coin terms nearly matching October 2025 levels despite the significant price decline. Long positions heavily outnumber shorts on major exchanges like Binance and OKX, increasing the risk of forced liquidations if prices drop further.
Why it matters
The data reflect a disconnect between weak price performance and growing speculative risk-taking through leveraged futures. This growing mismatch could lead to additional selling pressure from forced liquidations if the price continues to fall, potentially affecting market dynamics for DOGE and traders’ risk exposure.
Key context
Open interest is the total value of futures contracts outstanding and a rise suggests increased leverage entering the market. While open interest alone doesn’t indicate direction, the account ratios show more traders are betting on price increases despite the falling price. Forced liquidation events, triggered by insufficient collateral on leveraged positions, can result in automatic selling that pressures the market further.
Key numbers and entities
Dogecoin (DOGE) trades near $0.07055, down nearly 70% over one year. Open interest on DOGE futures is about $1.21 billion, up from $930 million in late June, equivalent to 17.18 billion DOGE coins in contracts, nearly the October 2025 level of 17.78 billion coins. Binance shows a long to short account ratio over 3:1, and OKX over 5:1.
What remains unclear
The source does not flag open questions but notes that open interest alone does not reveal the net direction of bets, and the precise financial exposure of these leveraged positions is not detailed beyond account ratios and open interest.