2025-12-31 18:23:28

Dogecoin's recent performance is quite interesting. The open interest in perpetual contracts surged by 7% in one go, now standing at $1.52 billion, and futures contracts soared to $12.25 billion — indicating that many traders are betting on a DOGE rebound. However, reality is a bit harsh: the price actually fell by 0.8%, reaching $0.1227, and the 24-hour trading volume also shrank by nearly 30%, dropping to $651.63 million.

From a technical perspective, the Relative Strength Index (RSI) is only 38, which is a clear oversold signal. The open interest is mainly concentrated on a few major exchanges, with Gate holding the largest share at $418.3 million, another major exchange at $292.12 million, Bitget at $147.72 million, and several other platforms also holding significant positions.

What’s worth noting is that despite such high futures activity, DOGE has still fallen 62% over the past year. Some analysts point out the risk: if DOGE cannot hold the support level at $0.128, it could further decline to $0.09. This is a critical level to watch closely.

DOGE10,84%

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GateUser-0cb33abd

· 2025-12-31 19:02

There might be some bearish news. If you know anything, just come out and say it, don't hide it.

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0xInsomnia

· 2025-12-31 18:43

The contract is hot, but the price is falling. This is a trap, brother.

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TrustlessMaximalist

· 2025-12-31 18:39

Here comes another round of harvesting, why is the price still falling when the contract is so large?

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NftBankruptcyClub

· 2025-12-31 18:37

The contract price skyrocketed and then fell again. This wave of retail investors is going to get cut again, right?

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GasSavingMaster

· 2025-12-31 18:30

Another old trick, the contract is exploding in price but still falling, the retail investors are betting again. --- RSI 38? Definitely oversold, but that doesn't necessarily mean a rebound, it could just be a calm before the storm. --- 122 billion futures contracts hanging there, breaking 0.128 straight to 0.09, this knife is hanging a bit high. --- A 62% drop in a year and still playing futures, that mindset is really something. --- The crazy building of positions by traders might actually be a signal, usually reversing at this time is the way to make money. --- Trading volume down 30%, the market is so cold, more contracts are useless. --- If the 0.128 threshold is really broken, I think the bottom could directly reach 0.09, there's still quite some room. --- Listen to the position distribution across major exchanges, Gate is the most aggressive, are these whales trying to bottom fish or are they trapping retail investors? --- DOGE is always like this, when futures heat peaks, the price tends to go down, hilarious. --- Oversold is both an opportunity and a trap, don't be fooled by this signal, good technicals don't always mean good trades.

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