- Dogecoin open interest rises to $3.52B as derivatives market activity shows steady growth.
- Total value locked in Dogecoin DeFi hits $21.66M with daily incentives reaching $6.51M.
- Whale accumulation adds 2B DOGE in a week while golden cross forms above key averages.
Dogecoin is gaining strong momentum to surge above $1, supported by derivatives activity, technical signals, and decentralized finance growth. The cryptocurrency is currently trading at $0.2318, with its market capitalization recorded at $35.253 billion. Recent metrics point to growing trader engagement and increasing locked value in decentralized finance platforms.
Price Movements and Market Activity
The price chart from late 2023 to mid-2025 shows Dogecoin moving through multiple corrective phases before strong upward reversals. Each phase, marked I through V, was followed by bullish momentum and breakouts.Â
According to analysis prepared by Trader Tardigrade, the most recent surge pushed Dogecoin above $1 by mid-2025. Oscillator readings also showed repeated overbought and oversold signals, aligning with these market cycles. Dogecoin’s derivatives market continues to show consistent growth. Open interest reached $3.52 billion, rising 0.59% compared to previous data.
Options volume grew 14.34% to $830.02 thousand, while options open interest expanded 122.36% to $1.51 million. According to Coinglass data, the long/short ratio for the past 24 hours stood at 0.9635, reflecting balanced positions. Binance traders showed stronger long activity, with ratios above 3.40.
Market Growth and Investor Engagement
Dogecoin’s decentralized finance presence expanded steadily through 2024 and 2025. According to DefiLlama, total value locked reached $21.66 million, showing a 3.55% increase in 24 hours. Chain fees and revenues were both recorded at $3,282, while token incentives distributed reached $6.51 million.Â
This data reflects higher engagement across the network and growing liquidity. A golden cross formed on August 13, 2025, when the 50-day moving average crossed above the 200-day.
Historical data shows similar signals have been followed by strong rallies. According to observations by market analysts, whale accumulation added over 2 billion DOGE within one week. At the same time, derivatives open interest rose to $3.82 billion, reflecting higher positioning from traders.
