Dogecoin Derivatives Market Open Interest Plummets 75% from September Peak
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 11 2026- Open Interest Decline: According to CoinGlass, Dogecoin futures open interest plummeted from nearly $6 billion in September to around $1.2 to $1.4 billion by December, marking a 75% reduction that indicates a mass exodus of leveraged traders, potentially amplifying future price volatility.
- Reduced Market Participation: Binance's DOGE futures open interest fell from approximately $1.15 billion in mid-September to below $300 million recently, reflecting a significant decrease in market participants, which further weakens liquidity.
- Increased Volatility Risk: The decline in futures positioning has fundamentally altered Dogecoin's liquidity profile, as fewer leveraged participants mean that individual transactions can more easily impact the market, leading to sharper price swings.
- Weak Market Foundation: The current derivatives market operates with only one-fifth of the capital commitment observed at peak levels, indicating a substantial drop in market activity compared to the summer months, resulting in reduced price discovery efficiency and wider spreads.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
