Dogecoin Futures Bets Surge Back to October 2025 Levels Despite 70% Price Drop

Dogecoin traders are ramping up leveraged bets even as the token struggles near 7 cents, creating a widening gap between falling prices and rising speculative activity in futures markets.

Open Interest Climbs Despite Price Weakness

Open interest, the total value of outstanding futures contracts, has risen to about 1.21 billion dollars from roughly 930 million dollars in late June. Dogecoin fell nearly 3 percent over the past day and remains down close to 70 percent over the past year.

Coin-Based Positioning Tells a Clearer Story

When measured in coins rather than dollars, the picture becomes sharper. Open interest currently sits at 17.18 billion DOGE, close to the 17.78 billion recorded in October 2025, when the token traded near 25 cents. This means speculative positioning has nearly fully rebuilt, even though each coin is now worth less than a third of its earlier value.