Dogecoin Futures Open Interest Surges 63% Amid Price Rally

Dogecoin (DOGE) is seeing a surge in trader interest, with open interest (OI) in futures contracts jumping 63% over the past week, according to blockchain analytics firm Glassnode. The total value of Dogecoin futures positions now exceeds $1.62 billion, signaling a sharp rise in speculative trading activity—even as Bitcoin’s price retreats from recent highs.

This spike in DOGE futures OI suggests a strong wave of bullish sentiment among traders, who appear increasingly confident in the meme coin’s short-term price movements. Glassnode notes that such a rise, especially amid Bitcoin’s pullback, indicates a “decoupling” effect, where Dogecoin is gaining traction independently of broader crypto market trends.

Supporting this momentum, CoinGecko data shows that Dogecoin has soared more than 40% over the past seven days, making it the best-performing cryptocurrency among the top 10 by market cap. The surge highlights renewed investor interest in DOGE, often driven by social media hype, market speculation, and broader altcoin rotation trends.

Global Macro Investor CEO Raoul Pal recently shared a bullish outlook on Dogecoin, hinting that the coin could set new highs relative to Bitcoin. However, despite the recent rally, Dogecoin remains down approximately 68% from its all-time high recorded in May 2021.

As the cryptocurrency market continues to evolve, DOGE’s latest performance underscores its enduring appeal among retail traders and speculative investors. The combination of rising open interest, strong price performance, and independent momentum may position Dogecoin for further upside—if current market enthusiasm holds.

This development also adds to the growing narrative of altcoins outperforming Bitcoin in select market cycles, with Dogecoin once again taking center stage in the crypto spotlight.