Dogecoin open interest drops to $959M amid crypto ETF outflows
In brief
- Dogecoin open interest fell 2.4% to $959M in 24 hours amid crypto selloff
- DOGE down 2.20% daily, 12% weekly, 27% for June
- Oversold RSI at 24 signals potential relief rally despite lingering bear market
Pressure from macro headwinds
Dogecoin open interest fell 2.4% in the last 24 hours to $959 million as the broader market grappled with competing forces. Crypto continues to be under pressure from spot ETF outflows and a hawkish Federal Reserve, according to market observers. Most crypto assets, including Dogecoin, traded in the red at press time, with a total of $141 million in liquidations.
At the time of writing, Dogecoin was down 2.20% in the last 24 hours to $0.073 and down 12% weekly. The decline extends a brutal June. The dog cryptocurrency is down nearly 27% in the month of June so far, with deeper losses lurking in the rear-view mirror. Dogecoin fell to a low of $0.071 on June 23, its lowest point since November 2023.
The bear market backdrop
Year-to-date performance tells a grimmer story. Dogecoin has steadily declined since the year's start as the crypto market bear market lingers, only marking one green month in 2026 so far. That's the kind of sustained pressure that leaves traders searching for any sign of relief.
One technical signal is catching attention. The daily RSI has fallen below oversold levels of 30, now at 24. Dogecoin might have yet to confirm oversold conditions, but the chances of a potential relief rally exist given the current oversold reading. Whether that translates to an actual bounce—or merely a brief reprieve before deeper selling—remains an open question in a market still wrestling with macro uncertainty.
