Dogecoin Futures Open Interest Soars: Unmasking the Speculative Surge

The cryptocurrency world is known for its unpredictable nature. Recent data from Glassnode has shed light on a fascinating trend in Dogecoin (DOGE): a dramatic increase in futures open interest. This metric, often overlooked by casual observers, offers crucial insights into market sentiment and potential future price movements. But what exactly is happening, and how does this surge signal deep speculation within the popular meme coin’s ecosystem?