In the broader trend of the meme coin industry, there has been a significant decrease in open interest in Dogecoin and Shiba INO futures.

According to a report by blockchain analysis company GlassNode, the futures OI of these assets has sharply declined. In the context of sustained price struggles in the market, this decline is due to the decrease in meme coins.

Dogecoin's open interest is very popular

Dogecoin is the largest market capitalization meme coin, and its open interest in futures has decreased by 58.45%. This indicator has decreased from $3.58 billion on December 9, 2024 to only $1.49 billion. It is worth noting that this contraction in OI indicates that traders are either withdrawing from leveraged positions or becoming less confident in speculative trading.

Since its peak, the interest in futures opening in the Memecoins field has significantly decreased$ DOGE's futures 7D moving average fell by 58.45%, from 3.58B on December 9, 2024 to $1.49B today: https://t.co/5yBcLzcXMA

How do other memes compare? Let's dive