Here’s how it could affect the price

The open interest in term contracts on Dogecoin and Shiba Inu has considerably plunged into a broader trend in the part of the same.

According to a report by the Blockchain Analysis Society, Glassnode, the term contracts on these assets have experienced a net slowdown. This decrease occurs in the middle of current prices on the market, with memes parts faced with drops.

Dogecoin’s open interest takes a major blow

Dogecoin, the largest part of memes by market capitalization, experienced a 58.45% drop in its open interest in the long term. Metric rose from $ 3.58 billion on December 9, 2024 to only $ 1.49 billion. In particular, this contraction in OI indicates that traders come out of leverages or become less confident in speculative trade.

The open interest in the same sector has dropped considerably since their peaks.$ DOGEThe future of the 7D mobile average saw a decrease of 58.45%, going from $ 3.58 billion on December 9, 2024 to $ 1.49 billion today: https://t.co/5ybclzcxma

How do other people compare? Let’s dive into 👇 pic.twitter.com/oikrmqdsbx

– Glassnode (@glassnode) February 19, 2025

For the context, a reduction in open interest like this often suggests a reduction in short-term volatility, but it can also involve potential market reset. When speculative interest decreases, the probability of significant and unexpected price reductions decreases.

Shiba Inu and other coins follow the step

According to In Glassnode, Shiba Inu has also experienced a substantial drop in open interest, from 74.41% from $ 323 million to $ 83 million. Meanwhile, Pepe, Bonk and Wif recorded 71.93%, 75.10% and 69.83% drop respectively. Floki also experienced a significant contraction of more than 69.18%.

In particular, the widespread nature of this crash indicates that traders are now moving away from the trades of the play of speculative memes, perhaps in response to wider market conditions and recent problems concerning BALANCE And Eliza.

Price implications

As a rule, a strong reduction in term contracts may indicate a market background or a sign of the confidence of decreasing investors. As the lever effect drops, prices’ action could become more stable in the short term.

However, this also means that less speculative capital flow in these CornersThis could slow down any significant recovery gathering.

In particular, in the case of Dogecoin and Shiba Inu, the drop in current OI can lead to a reduction in price volatility. If traders regain confidence and start building positions again, this could trigger a renewed momentum upwards.

Dogecoin price analysis

Despite the slowdown in open interest, some analysts remain optimistic about future Dogecoin price movements. Crypto-market analyst, Crypto Rachel, suggests that Dogecoin is currently at a level of occurrence, recalling the stockings of the past market.

$ DOGE is rolled up like a spring – the most occurred from the FEB Shakeout.
The fear of the meme’s play culminates, and this is where legends are made.

I bet on a quick push, preparing the land for a new massive annual summit.

The countdown starts now! 🚀 pic.twitter.com/LF40odvza0

– Rachel Crypto (@ crypt0rachel) February 19, 2025

According to her, the feeling of CEM has reached the fear of point, which historically precedes a strong recovery. She believes that Dogecoin could see a net price rebound, potentially reaching new heights for the year.

Another analyst, Captain Parabolic, supported This Dogecoin could see a sharp increase in prices over the next two years, with a daring prediction that the assets could reach $ 6 by 2026.

Shiba Inu Prix Perspectives

For Shiba Inu, market analysts also predict upward potential if key support levels are maintained. Rose Premium Signals, an analytical channel on the market, noted that Shiba Inu is currently rebounding in an area of ​​crucial accumulation.

🎯 $ Shib/ USDT analysis

🐶 #Shiba Inu (#Shib) Watch strong reversal signs after having bounced from the key accumulation area.

🔥 As long as Shib is above the accumulation area, more increase is expected!

🎯 Target 1: 0.00002338
🎯 Target 2: 0.00002979
🎯 Target 3:… pic.twitter.com/vinqbvb67u

– Rose bonus signals 🌹 (@viprosroster) February 16, 2025

As long as this level of support remains intact, the analyst expects a strong ascending movement. In addition, the channel has identified several price objectives for SHIB, ranging from $ 0.00002338 to $ 0.00003659.

In addition, the CW market analyst note That a major sale wall exists at $ 0.00002225. According to her analysis, Shiba Inu should undergo a smooth rise up to reach this resistance. In the short term, it maintains a target of $ 0,00004, which indicates a potential for assessing additional prices if the momentum is strengthened.