Dogecoin Open Interest Holds Strong at $3B+ – Are Bulls Ready to Pump?

Dogecoin's open interest refuses to buckle—stubbornly clinging above the $3 billion mark. Traders are circling like sharks, but who’s about to feast?

Meme coin or not, that’s serious money on the table. The question isn’t whether DOGE has momentum—it’s whether the so-called 'smart money' will finally stop pretending they don’t trade jokes with Lambo dreams.

Watch the derivatives data like a hawk. If open interest spikes alongside price? That’s your signal. If not? Well, even crypto’s favorite shiba inu can’t defy gravity forever.

Bonus jab: Wall Street still calls it a 'joke asset'—right before their quant funds quietly ape in.

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.

After 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.

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.

However, 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.