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Dogecoin open interest falls by 1.7 billion USD as original meme coin sinks

Dogecoin’s price currently exceeds 0.32 USD after a 4% dip in 24 hours. It hit an open interest of 5.5 billion USD on January 17, 2025, but has since dropped significantly. Other meme coins are also facing substantial price declines.

The overall crypto market has suffered due to mass sell-offs in tech stocks, driven by concerns regarding advances in AI technology. This trend affects various cryptocurrencies, including Dogecoin, indicating a potential shift in investor sentiment.

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