Dogecoin (DOGE) has experienced a significant drop in its derivatives market activity due to its steady price decline. The meme coin's total open interest has plummeted to $2.51 billion, the lowest level since the beginning of the year. Open interest reflects the number of outstanding options or futures contracts, with a decrease indicating a decline in market activity. Despite this, DOGE's Chaikin Money Flow (CMF) remains positive, suggesting buying interest. However, futures traders have shown a preference for short positions, anticipating further price drops. The coin's current price of $0.10 has decreased by 30% in the last month. While there is potential for a price increase to $0.11 if buying activity strengthens, a false signal could lead to a drop to $0.08. This analysis serves as information and not financial advice, urging readers to conduct their own research before making investment decisions. Read more AI-generated news on: https://app.chaingpt.org/news