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.

随着Memecoin继续努力获得投资者的利益，Dogecoin的开放兴趣已经存在了一段时间。就目前而言，数据表明，自3月初以来，资产的开放兴趣已大幅下降，跌至2024年11月出现的水平。

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的数据跟踪的快速降低反映了杠杆位置的大幅下降和对Memecoins国王的交易者的胃口的显着降低。

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.

开放兴趣对于衡量资产的利息至关重要，这反过来有助于预测价格变动。就狗狗币而言，对资产的低兴趣在其开放兴趣的趋势中很明显。

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日达到顶峰之后，Dogecoin的开放兴趣一直处于不懈的自由度之中，价格动作反映了这一下降趋势。自2月中旬以来，资产的开放兴趣一直在稳步蒸发，从多个月的高点降至现在的水平，与去年第四季度的价格集会之前相当。

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.

减少并没有突然突然，而是在过去两个月的过程中被吸引出来，这是由交易者持续退出和在衍生品市场中的看涨情感的持续退出的强调。这是由于加密货币市场的其余部分持续下跌而来的情绪。

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.

在撰写本文时，Dogecoin开放兴趣的价格为16亿美元，低70.5％，低于其1月18日的高峰54.2亿美元。

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开放兴趣的持续下降对其未来价格方向产生了许多影响，尤其是在衍生品市场的动量和流动性的背景下。

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.

开放兴趣通常用于评估趋势的强度（无论是向上还是向下），并且急剧减少通常表明，由于停止损害触发器，清算，或者他们不再看到资产的近期上升空间，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.

从理论上讲，Dogecoin开放兴趣的减少指向流动性的相应降低，这也会损害任何价格上涨趋势。另一方面，开放兴趣的增加是流动性增加的确定性。

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.

既然开放兴趣恢复了2024年11月的水平，这意味着围绕模因硬币的流动性和情绪已经损失了大约两个月的工作，以及衍生品交易者可以返回看涨的势头的速度也将纳入这里的任何潜在上升。

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.

在撰写本文时，Dogecoin的交易价格为0.1684美元，在过去24小时内增长0.52％。但是，更广泛的趋势仍然是负面的，在过去的30天中，模因硬币下降了34％。这种延长的缩水也对Dogecoin在更广阔的市场中的地位产生了后果，现在它已被Cardano在市值方面所取代。