Dogecoin jumps 15% as DOGE futures OI hits $1.81B
Dogecoin (DOGE) jumped nearly 15% in a day, breaking above the $0.10 resistance level and topping near $0.112. DOGE futures drove the move: open interest rose more than 28% to $1.81B, the highest since Oct. 10. CoinGlass data showed about $21.33M of DOGE short liquidations versus roughly $451K of long liquidations, helping push positioning quickly from bearish to bullish.
Shiba Inu (SHIB) also rallied, up over 6% to around $0.00000656. A 30-minute “golden cross” (50-period MA above 200-period MA) added a short-term bullish technical signal. Binance-listed SHIB perpetual futures saw open interest increase by nearly 14%.
Traders should also monitor the U.S. Fed, with rates expected to stay at 3.50%–3.75% after the meeting, which could lift volatility after the initial meme-coin breakout.
This is market news, not investment advice.
Bullish
DOGE’s upside was reinforced by derivatives positioning: a sharp jump in DOGE futures open interest and far larger short liquidations than long liquidations. That combination typically amplifies spot buying as short sellers are forced out, supporting a near-term continuation bias. SHIB’s parallel move, aided by a short-term golden cross and rising SHIB perpetual OI, suggests the meme-coin risk-on flow is broad rather than isolated.
However, the Fed is a potential volatility catalyst. If rates stay unchanged but guidance surprises, the liquidation-driven rally can fade quickly. Still, for DOGE itself, the immediate momentum is currently tilted upward due to the magnitude of short covering and the rising OI, which often persists for several sessions before fully mean-reverting.