{"id":124810,"date":"2024-11-12T02:25:51","date_gmt":"2024-11-11T19:25:51","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=124810"},"modified":"2024-11-12T02:25:51","modified_gmt":"2024-11-11T19:25:51","slug":"to-the-moon-dogecoin-futures-open-interest-hits-all-time-high-but-traders-are-hedging","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=124810","title":{"rendered":"To the Moon? Dogecoin Futures Open Interest Hits All-Time High\u2014But Traders Are Hedging"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\"><a href=\"https:\/\/decrypt.co\/resources\/dogecoin-crypto-cryptocurrency-guide-how-to-buy-doge\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\">Dogecoin<\/a> fever is overtaking the cryptosphere after the token\u2019s remarkable <\/span><a href=\"https:\/\/decrypt.co\/291010\/dog-themed-meme-coins-spike-on-trump-fed-fueled-rally\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">rally<\/span><\/a><span style=\"font-weight:400\"> to three-year highs over the weekend. But despite rosy signals that the Shiba Inu-themed token is destined <\/span><a href=\"https:\/\/decrypt.co\/291034\/cryptos-comeback-are-surging-prices-here-to-stay\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">for the moon<\/span><\/a><span style=\"font-weight:400\"> (along with the rest of the crypto market), some traders aren\u2019t letting optimism get the best of them.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">On Monday, open interest on DOGE options soared to an all-time high: some $2.74 billion worth, according to data from <\/span><a href=\"https:\/\/www.coinglass.com\/pro\/futures\/OpenInterest\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">CoinGlass<\/span><\/a><span style=\"font-weight:400\">. Prior to this week, open interest on DOGE futures had peaked at $2.21 billion back in March, and had mostly been below the billion-dollar mark from April until late October.<br \/><\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">And is that unprecedented pot of money being waged on a Dogecoin supercycle? Not quite.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Over the course of Monday, options traders have shorted DOGE slightly more than they\u2019ve longed the token, according to additional <\/span><a href=\"https:\/\/www.coinglass.com\/pro\/futures\/Liquidations\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">CoinGlass<\/span><\/a><span style=\"font-weight:400\"> data. In Monday\u2019s opening hours, roughly 50.75% of options taken out on DOGE were short positions.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Only in the last hour has that trend shifted ever so slightly towards longs. Even still, roughly half of all DOGE options trades are currently bets that the token\u2019s streak will soon fade.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">There are reasons for traders to be confident that Dogecoin has many more mountains to climb. The world\u2019s first meme coin has nearly <\/span><a href=\"https:\/\/decrypt.co\/price\/dogecoin\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">doubled<\/span><\/a><span style=\"font-weight:400\"> in price since Donald Trump retook the White House last week, a development that has analysts across the board <\/span><a href=\"https:\/\/decrypt.co\/291034\/cryptos-comeback-are-surging-prices-here-to-stay\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">giddy<\/span><\/a><span style=\"font-weight:400\"> about the crypto market\u2019s long-term prospects.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Dogecoin has particular connectivity to Trump\u2019s election night victory. Elon Musk, the coin\u2019s most famous <\/span><a href=\"https:\/\/decrypt.co\/288815\/elon-musk-dogecoin-pump-meme-coins\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">booster<\/span><\/a><span style=\"font-weight:400\">, played a major part in Trump\u2019s campaign, and is poised to play a significant role in the president-elect\u2019s administration. Trump proposed on the campaign trail that, should he be re-elected, Musk would lead a new regulatory agency literally called the Department of Governmental Efficiency (D.O.G.E.)<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">One could hardly cook up a more tantalizing roadmap for Dogecoin, which has previously seen its fortunes tied to <\/span><a href=\"https:\/\/decrypt.co\/102711\/dogecoin-down-over-90-since-elon-musks-snl-appearance\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">cultural relevance<\/span><\/a><span style=\"font-weight:400\">. And yet, a huge portion of options traders rushing to the token appear confident that narrative is a little too good to be true.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">DOGE sits at just under <\/span><a href=\"https:\/\/decrypt.co\/price\/dogecoin\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\"><span style=\"font-weight:400\">$0.32<\/span><\/a><span style=\"font-weight:400\"> at writing, up over 12% in the last 24 hours and reaching its highest price in three years Monday morning. The token hit an all-time high of $0.73 in May of 2021.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><i>Edited by <a href=\"https:\/\/decrypt.co\/author\/andrew-hayward\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\" rel=\"noopener\">Andrew Hayward<\/a><\/i><\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-start p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl md:text-center gg-dark:text-white\">Daily Debrief<!-- --> Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/decrypt.co\/291139\/dogecoin-open-interest-all-time-high\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin fever is overtaking the cryptosphere after the token\u2019s remarkable rally to three-year highs over the weekend. But despite rosy signals that the Shiba Inu-themed token is destined for the &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=124810\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-124810","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/124810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124810"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/124810\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}