Bad news for Dogecoin investors: The coin is one of the worst performers over the past week near the top of the crypto charts—and the amount of money being bet on the asset’s future price is dwindling.
Data from CoinGlass shows that open interest on the original meme coin now stands at nearly $3.8 billion. It hit a record high of $5.5 billion on January 17.
Open interest refers to the collective value of futures contracts that have not yet been settled by traders.
And the price of Dogecoin now now stands at just over $0.32 per coin, after a 24-hour dip of nearly 4%, CoinGecko shows.
Over the past week, it’s dropped in price by nearly 16%—making it the second-biggest loser out of the top 20 coins and tokens, losing out only to Sui.
Crypto markets took a hit yesterday when investors so
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Author: Mathew Di Salvo
