Dogecoin surges 11% as open interest hits year high
Dogecoin has significantly outperformed the broader crypto market, rising nearly 11% in the past week and reaching $0.1078. While Bitcoin and most major altcoins remain largely flat, DOGE has shown strong independent momentum backed by record capital inflows.
Highlights
- Dogecoin rose nearly 11% and is trading around $0.107.
- Futures open interest reached a 2026 high of 15.36 billion tokens.
- Large holders added over 500 million DOGE in the past week.
- Active blockchain addresses increased by 28%.
Market performance
Over the last 24 hours, Dogecoin gained 0.4% in the past hour and 0.3% daily, bringing its weekly performance to 11.5%. The token is currently trading around $0.1078, making it one of the top performers among the largest cryptocurrencies.
According to CoinDesk, futures open interest for DOGE has climbed to 15.36 billion tokens—the highest level recorded this year. The simultaneous rise in both price and open interest indicates fresh capital entering the market rather than position liquidations, a pattern that typically reinforces the prevailing trend.
Drivers behind the rally
The surge follows several weeks of sideways trading. Analysts attribute the renewed interest to a combination of factors. Over the past week, large holders accumulated more than 500 million DOGE. Asset manager 21Shares launched a physically-backed spot Dogecoin ETF on the Xetra exchange, while Grayscale products saw positive inflows after nine consecutive days of outflows. On-chain activity also increased, with the number of active addresses rising 28%.
“DOGE's price move isn't tied to a single news event,” said Jordan Jefferson, founder of DogeOS and MyDoge. It’s the convergence of whale accumulation, institutional product launches, improving flows, and rising on-chain activity.
Speculative expectations around Elon Musk’s X Payments platform remain another supporting factor, even though the announced products do not explicitly mention Dogecoin. Traders continue to bet on potential future integration, drawing on Musk’s long-standing public support for the token since 2021.
Risks and outlook
Although the current setup strengthens the bullish trend, elevated open interest makes Dogecoin vulnerable to sharp liquidations if market sentiment reverses.
Sustained gains will depend on continued capital inflows and the overall health of the crypto market.
We also reported that Dogecoin edged higher with resistance at $0.10634 as momentum remains weak.
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