The bottom line: Dogecoin open interest remains steady, while four-hour liquidations totaled just $6,295. Long positions have not yet been flushed out on a large scale.
DOGE futures open interest across all platforms stands at $1.114 billion, up 1.78% over 24 hours. Binance open interest is $227 million, up 3.21%; OKX open interest is $95.09 million, up 2.33%. Both platforms are seeing positions increase, suggesting leverage remains in the market. But that does not mean traders are uniformly bullish: a reversal in direction could amplify volatility in these crowded positions.
Only $6,295 was liquidated in the past four hours: $5,213 in long positions and $1,081 in short positions, with longs accounting for 83%. The amounts are small, suggesting scattered stop-outs rather than concentrated liquidations. Over 24 hours, DOGE liquidations totaled $1.68 million, with shorts making up about 60%. Traders chasing the decline are more likely to be caught out by a rebound.
Open interest is rising while liquidations remain low, so it looks more like leverage is gradually building up, with no clear direction chosen yet. Do you think DOGE is gathering strength, or just stockpiling fuel for the next liquidation?
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