DOGE leverage jumps despite price weakness, raising liquidation risk

CoinDesk said Dogecoin was showing weakness around $0.07 while leveraged futures positioning climbed দ্রুত, raising the risk that further declines could trigger large-scale liquidations and intensify selling pressure. According to CoinGlass, open interest in DOGE futures rose to $1.21 billion from about $930 million in late June. In DOGE terms, open interest reached 17.18 billion coins, nearing 17.78 billion DOGE in October last year, when the price was around $0.25. CoinDesk said the price is still under one-third of that level, but futures open interest measured in DOGE has nearly returned to it. On Binance, accounts holding long positions outnumber shorts by more than three to one, while on OKX the ratio is more than five to one, indicating more traders are betting on upside. CoinDesk added that if the price falls further, leveraged positions could be liquidated in a chain reaction, adding to selling pressure.