Open interest in meme coin futures has significantly decreased as prices have dropped, sparking a debate about the sector’s future.
What Happened: In a post on X on Feb 19, Glassnode data shows the decrease, with Dogecoin (CRYPTO: DOGE) open interest down by 58.45%, falling from $3.58 billion on Dec. 9, 2024 to $1.49 billion recently.
Other meme coins experienced even steeper drops, with Pepe (CRYPTO: PEPE) open interest down by 71.93% ($1.25 billion to $351 million), Bonk (CRYPTO: BONK) down 75.10% ($715 …
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