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Futures
Futures
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CandyDrop
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Launchpool
Quick staking, earn potential new tokens
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Launchpad
NEW
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Alpha Points
NEW
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Futures Points
NEW
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Simple Earn
Earn interests with idle tokens
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Auto-invest on a regular basis
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Soft Staking
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Pledge one crypto to borrow another
Lending Center
One-stop lending hub
VIP Wealth Hub
Customized wealth management empowers your assets growth
Private Wealth Management
Customized asset management to grow your digital assets
Quant Fund
Top asset management team helps you profit without hassle
Staking
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BTC Staking
HOT
Stake BTC and earn 10% APR
GUSD Minting
Use USDT/USDC to mint GUSD for treasury-level yields
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- MC:$3.59KHolders:20.09%
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- MC:$3.52KHolders:10.00%
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- Dogecoin faces a decline in retail demand and waning institutional interest:
Interest in Dogecoin has dropped significantly since the sudden crash on October 10, with open interest in futures contracts decreasing by approximately 71% to $1.21 billion on Friday from $4.4 billion.
The meme coin has experienced steady growth in open trading volume, reaching $6 billion on September 14. This rise coincided with an increase in trading volume, as its price surged to $0.3068 from $0.1298 in April, confirming the role of retail markets in driving value growth. However, with a notable decline in open trading volume, it may be challenging for Dogecoin to sustain this recovery.
Open interest in Dogecoin | Source: Coin Glass
Meanwhile, institutional interest in Dogecoin ETFs( has waned. According to SoSoValue data, these funds have not recorded any cash flows since December 10, when inflows reached $172,000.
The total net inflow of funds has amounted to $205 million, with net assets of $4.96 million. There are two US-licensed exchange-traded funds (ETFs) for Dogecoin), namely GDOG by Grayscale and BWOW by Bitwise.
Dogecoin ETF statistics | Source: SoSoValue