Dogecoin Open Interest Remains Above $3 Billion, Can Bulls Take Control? | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Dogecoin open interest has crashed from its July peaks to lower levels with the price drop that carried into the month of August. This steady decline has come with the price struggles triggered by uncertain market headwinds that have seen investors take a more conservative stance on the market. In this report, we take a look at the Dogecoin open interest and how it has performed over the last week, with the possibility of a price reversal.

Dogecoin Open Interest Still Above $3 Billion

The Dogecoin open interest has still remained high despite not breaking its all-time high levels yet. Back in January 2025, the open interest had reached $5.5 billion, which remains its highest level yet, before crashing back down. Then, in July 2025, it seemed as though this peak would be surpassed. However, the month’s high was only $5.35 billion before spiraling back downward again.

Related Reading: Ripple CTO Jumps Into The Fray After Caitlin Long Bashes XRP With Centralization ClaimsAfter the July peaks, there has been a 40% decline in the Dogecoin open interest going into the month of August. So far, though, the open interest has managed to stay at an average of $3 billion, suggesting that there is still a lot of interest in the meme coin.

With what looks like a recovery in the open interest, bouncing off from its early August lows, the Dogecoin price could be gearing up to follow through. Historically, periods of high open interest have coincided with periods of price rallies, a trend that has been maintained over time. This is even noticeable in the fluctuations that have dominated the open interest recently, as the price has wobbled accordingly.

Source: Coinglass## Where Could The DOGE Price Be Headed?

Looking at the historical performance of Dogecoin in the month of August, it shows that it could be hit or miss for the meme coin. There have been more red closes for this month compared to green closes over the years, with the last three years in a row closing in the red, data from Coinglass shows.

Related Reading: BlackRock To File For XRP ETF After Ripple-SEC Settlement? Market Expert AnswersHowever, there has been some bullish momentum for Dogecoin this month after a quick bounce, putting it so far at an approximate 7% increase already. If the Bitcoin and Ethereum prices do continue to rally, then it is possible that the meme coin will rise in tandem and the month of August could sloe in the green like it did back in 2021 in a post-Bitcoin halving year.

DOGE bulls push for new peaks | Source: DOGEUSDT on TradingView.comFeatured image from Dall.E, chart from TradingView.com Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.