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Author: Money Mechanics
In the face of a nearly 4% price drop in the past week, Dogecoin DOGE/USD investors have demonstrated unwavering interest, pouring over 15 billion DOGE, or approximately $3.42 billion, into the derivatives market in the last 24 hours.What Happened: A significant open interest in Dogecoin, pointing to a bullish sentiment among investors. Open interest is a measure of the total value of outstanding active futures contracts that investors have committed to Dogecoin.Data from CoinGlass shows that Gate investors were at the forefront, with a total open interest of 3.29 billion DOGE, valued at $750.20 million. This accounts for 21.92% of the total open interest.…