DOGE Leverage Hits Record High Amid Slumping Price

Despite its price hovering around 7 cents, Dogecoin's (DOGE) leveraged futures bets have reached a record high of $1.21 billion in open interest, surpassing levels seen in October 2025 when DOGE traded near 25 cents.

This surge in speculation has raised concerns about the potential for forced liquidations and additional selling if prices fall further, as long positions heavily outnumber shorts on major exchanges like Binance and OKX.

The mismatch between weak prices and rising risk-taking in the futures market is evident when measured in coins rather than dollars, with open interest currently standing at 17.18 billion DOGE, close to October 2025 levels of 17.78 billion despite each coin being worth less than a third of its original value.

While this increased leverage may indicate that more traders are betting on higher prices, it also creates a pressure point if DOGE slides further, as leveraged bets can be automatically closed by the exchange, adding fresh selling to an already downward market.