Data from blockchain analytics firm Glassnode shows that the Dogecoin Futures Open Interest has continued to rise despite the recent pullback in the memecoin’s price.

区块链分析公司GlassNode的数据表明，尽管Memecoin的价格最近回调，但Dogecoin期货的开放兴趣仍在继续上升。

In a recent X post, the firm explained that this metric tracks the total amount of futures positions related to an asset that are currently open on all centralized derivatives exchanges. When the value of this indicator goes up, it means that investors are opening up more positions on the market.

在最近的X帖子中，该公司解释说，该指标跟踪与当前所有集中式衍生品交易所开放的资产相关的期货头寸总数。当该指标的价值上升时，这意味着投资者正在公开市场上的更多职位。

Usually, the total leverage present in the sector goes up when new positions appear, and this kind of trend can lead to more volatility for the asset’s price. On the other hand, the indicator observing a decline suggests that the holders are either closing up positions of their own volition or getting liquidated by their platform. Typically, the cryptocurrency becomes more stable following such a trend.

通常，当出现新职位时，该行业中存在的总杠杆率会增加，并且这种趋势可能导致资产价格的波动性更高。另一方面，观察下降的指标表明，持有人要么关闭自己的意志，要么被平台清算。通常，随着这种趋势，加密货币变得更加稳定。

This is how the trend in the Dogecoin Futures Open Interest has looked over the last few months:

这就是过去几个月中，Dogecoin Futures Open兴趣的趋势：

The above chart shows that the Dogecoin Futures Open Interest has seen a huge increase recently, a sign that investors have put up a large number of bets related to the memecoin. Over the past week alone, the metric’s value has gone up from $989 million to $1.62 billion, which implies growth of almost 64%.

上图表明，Dogecoin Futures Open兴趣最近有了很大的增长，这表明投资者已经下了大量与Memecoin有关的赌注。仅在过去一周中，度量标准的价值就从9.89亿美元增加到16.2亿美元，这意味着增长了近64％。

Initially, this strong uplift in speculative activity coincided with DOGE’s sharp recovery rally, which saw the memecoin rise from lows of $0.13 in late December to highs of $0.28 in mid-August. Investors usually find rallies to be exciting, so they tend to open up more positions on the futures market during them.

最初，这种投机活动的强烈提升与Doge的急剧恢复集会相吻合，该集会使Memecoin从12月下旬的低点上升到8月中旬的0.28美元。投资者通常会发现集会令人兴奋，因此他们倾向于在期间在期货市场上开设更多职位。

However, despite the fact that the Dogecoin rally has gone cool most recently and the price has even registered some pullback, the Futures Open Interest has only continued to move up.

然而，尽管Dogecoin集会最近变得很酷，而且价格甚至降低了一些回调，但Futures Open Isport仍在继续上升。

“This decoupling suggests persistent speculative positioning, even as price momentum fades – a setup worth monitoring,” the analytics firm notes.

Analytics公司指出：“这种脱钩表明，即使价格动量逐渐消失，也值得监视的设置，这表明持续的投机定位。”

Dogecoin Futures Open Interest Is Still Up Despite Price Pullback

尽管价格下跌，但Dogecoin期货期货开放兴趣仍在上升

This isn’t the only cryptocurrency that has seen a boost in speculative activity recently. According to Glassnode, XRP has also seen its Futures Open Interest shoot up.

这并不是最近唯一提高投机活动的加密货币。根据GlassNode的说法，XRP还看到了其未来的开放兴趣。

During the same window as Dogecoin's Open Interest increased by 63.8%, XRP observed the indicator go up by 41.6%, rising from $2.4 billion to $3.4 billion.

在与Dogecoin的开放兴趣增加63.8％的窗口中，XRP观察到该指标上升了41.6％，从24亿美元上升到34亿美元。

“This sharp increase in leverage coincides with a price rally from $2.14 to $2.48, suggesting elevated speculative activity and growing directional conviction. As leveraged products become more prevalent, they can contribute to both the velocity and magnitude of price trends, especially during periods of heightened enthusiasm or directional preference within the market

“杠杆率的急剧增加与价格从2.14美元升至2.48美元相吻合，表明投机活动升高和定向信念增长。随着杠杆产品变得更加普遍，它们可以促进价格趋势的速度和幅度