Dogecoin Futures Volume Soars 10,782% Despite Bearish Metrics
Dogecoin reversed early-week gains after rallying Monday into Tuesday, then retreating as selling pressure re-emerged. At the same time, futures volume spiked by 10,782%, an extreme jump that outpaced spot flows and highlights a wave of leveraged bets and rapid position turnover. On-chain and technical metrics remain more bearish than bullish, making the divergence between derivatives activity and price action notable.
The mismatch matters because heavy futures activity can amplify moves through liquidations and funding-rate swings, turning a modest pullback into a volatile episode for traders. Market participants should watch open interest and funding rates closely; the surge signals sustained retail and speculative attention on DOGE even when primary indicators look weak. Risk management will be key if this derivatives-led momentum persists.