$DOGE 15-minute contract open interest rose 3.03%, with an open interest value of about $213 million; the price fell 0.79% over the same period.
Let’s use this figure to break down open interest.
Open interest value is the number of coins held multiplied by the price. When the price rises, the open interest value rises too; comparing coin quantity gives a better indication of whether new positions have actually been opened.
Open interest bases vary greatly between coins. It’s not unusual for smaller coins to fluctuate by several tens of percent over an hour or two, while swings of the same magnitude are much rarer for major coins.
Sizing positions based on the stop-loss distance is far more reliable than just guessing.
#DOGE
Let’s use this figure to break down open interest.
Open interest value is the number of coins held multiplied by the price. When the price rises, the open interest value rises too; comparing coin quantity gives a better indication of whether new positions have actually been opened.
Open interest bases vary greatly between coins. It’s not unusual for smaller coins to fluctuate by several tens of percent over an hour or two, while swings of the same magnitude are much rarer for major coins.
Sizing positions based on the stop-loss distance is far more reliable than just guessing.
#DOGE