Dogecoin
Why Dogecoin is down 10.7% today
Analysis
Dogecoin (DOGE) fell 10.7% over the past 24 hours even as derivatives positioning appeared to heat up, with U.Today reporting a 12% jump in open interest. That increase in open interest alongside a sharp price drop is consistent with heightened leveraged activity and volatility, which can amplify downside moves when prices turn lower.
Contributing Factors (1)
Dogecoin Regains Momentum as Open Interest Soars 12%
Dogecoin's futures traders have swung into full action over the past day, with its open interest soaring past 12% over the period as its price turns bullish.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.