Dogecoin's open interest has been on a massive freefall for a while now as the memecoin continues to struggle to gain investor interest. As it stands, data shows that the asset's open interest has sharply declined since the beginning of March, plunging to levels last seen in November 2024.

隨著Memecoin繼續努力獲得投資者的利益，Dogecoin的開放興趣已經存在了一段時間。就目前而言，數據表明，自3月初以來，資產的開放興趣已大幅下降，跌至2024年11月出現的水平。

The rapid drawdown, which is being tracked using data from CoinGlass, reflects a significant reduction in leveraged positions and trader appetite for the king of memecoins.

使用Coinglass的數據跟踪的快速降低反映了槓杆位置的大幅下降和對Memecoins國王的交易者的胃口的顯著降低。

Open interest is crucial in measuring the interest in an asset, which in turn helps predict price movements. In the case of Dogecoin, low interest in the asset is evident in the trends in its open interest.

開放興趣對於衡量資產的利息至關重要，這反過來有助於預測價格變動。就狗狗幣而言，對資產的低興趣在其開放興趣的趨勢中很明顯。

After peaking on January 18, Dogecoin's open interest has been on a relentless freefall, with price action mirroring this downward trend. Since mid-January, the asset's open interest has been steadily evaporating, dropping from multi-month highs to a level now comparable to just before last year's Q4 price rally.

在1月18日達到頂峰之後，Dogecoin的開放興趣一直處於不懈的自由度之中，價格動作反映了這一下降趨勢。自2月中旬以來，資產的開放興趣一直在穩步蒸發，從多個月的高點降至現在的水平，與去年第四季度的價格集會之前相當。

The reduction, which has not been abrupt but instead drawn out over the course of the past two months, is highlighted by a sustained exit by traders and a cooling of bullish sentiment in the derivatives market. This is sentiment relayed from a continued fall in the Dogecoin price alongside the rest of the crypto market.

減少並沒有突然突然，而是在過去兩個月的過程中被吸引出來，這是由交易者持續退出和在衍生品市場中的看漲情感的持續退出的強調。這是由於加密貨幣市場的其餘部分持續下跌而來的情緒。

At the time of writing, the Dogecoin open interest is sitting at $1.6 billion, 70.5% below its January 18 high peak of $5.42 billion.

在撰寫本文時，Dogecoin開放興趣的價格為16億美元，低70.5％，低於其1月18日的高峰54.2億美元。

The persistent decline in Dogecoin's open interest carries a number of implications for its future price direction, particularly in the context of momentum and liquidity in the derivatives market.

Dogecoin開放興趣的持續下降對其未來價格方向產生了許多影響，尤其是在衍生品市場的動量和流動性的背景下。

Open interest is often used to assess the strength of a trend (whether upward or downward) and sharp reductions typically suggest that traders are pulling out of positions due to stop-loss triggers, liquidations, or they no longer see near-term upside in the asset.

開放興趣通常用於評估趨勢的強度（無論是向上還是向下），並且急劇減少通常表明，由於停止損害觸發器，清算，或者他們不再看到資產的近期上升空間，交易者正在退出位置。

In theory, a decrease in Dogecoin's open interest points to a corresponding reduction in liquidity, which can also damage any price uptrend. An increase in open interest, on the other hand, is definitive of an increase in liquidity.

從理論上講，Dogecoin開放興趣的減少指向流動性的相應降低，這也會損害任何價格上漲趨勢。另一方面，開放興趣的增加是流動性增加的確定性。

Now that the open interest has returned to its November 2024 levels, it means liquidity and sentiment surrounding the meme coin have lost about two months of work, and how quickly derivatives traders can return to bullish momentum will also be factored into any potential uptrend from here.

既然開放興趣恢復了2024年11月的水平，這意味著圍繞模因硬幣的流動性和情緒已經損失了大約兩個月的工作，以及衍生品交易者可以返回看漲的勢頭的速度也將納入這裡的任何潛在上升。

At the time of writing, Dogecoin is trading at $0.1684, up by 0.52% in the past 24 hours. However, the broader trend remains negative, with the meme coin down by 34% over the past 30 days. This extended drawdown has also had consequences for Dogecoin's standing in the wider market, and it has now been overtaken by Cardano in terms of market capitalization.

在撰寫本文時，Dogecoin的交易價格為0.1684美元，在過去24小時內增長0.52％。但是，更廣泛的趨勢仍然是負面的，在過去的30天中，模因硬幣下降了34％。這種延長的縮水也對Dogecoin在更廣闊的市場中的地位產生了後果，現在它已被Cardano在市值方面所取代。