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.
CoinGlass’ data indicates that the interest level in the original meme coin has now reached $3.8 Billion. On January 17, it reached a new record of $5.5 Billion.
The term open interest is used to describe the value of all futures contracts which have yet to be settled.
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.
Yesterday, the crypto markets were hit by investors selling tech stocks in masse because of fear over DeepSeek’s rise. In recent weeks, the Nasdaq has been tracking digital tokens and coins.
Despite Bitcoin recovering somewhat, the most volatile of the digital asset space is still suffering—and meme coins like Dogecoin are struggling big time.
Over a period of seven days, other meme tokens have also dropped hard. President Donald Trump's TRUMP, which runs on Solana's chain, has dipped by over 37% and is now priced at $27.
Meanwhile, Bonk—another leading Solana meme token—has dropped by over 30% over the same period, reminding meme coin holders how quickly monstrous gains can be swapped for precipitous plunges.
Andrew Hayward is the editor