Dogecoin Jumps Nearly 10% as Futures Open Interest Hits Yearly Peak

Dogecoin’s price jumped nearly 10% as DOGE-tracked futures open interest climbed to 15.36 billion tokens, a yearly peak, according to CoinDesk and @coindesk.

“Dogecoin zooms 10%, breaking away from bitcoin as open interest hits a yearly peak Open interest in DOGE-tracked futures climbed to 15”

@coindesk

CoinDesk said the move came as “Dogecoin has jumped nearly 10% to about 10.5 cents as futures open interest climbs to its highest level this year,” while also noting that “Open interest in DOGE-tracked futures climbed to 15.36 billion tokens.”

@coindesk

The same CoinDesk reporting framed the pattern as “Rising prices alongside surging futures open interest suggest new money is flowing into DOGE rather than old positions being unwound.”

At the time of writing, CoinDesk put DOGE near $0.105 after briefly pushing above 11 cents, while Bitcoin pulled back below $76,000 after trading above $79,000 earlier in the week.

LesNews similarly described DOGE’s price rising by nearly 10% over the past week, “briefly crossing the 11-cent threshold before stabilizing near $0.105 at the time of writing,” and said Bitcoin “slipped below $76,000 after topping $79,000 earlier this week.”

Across the futures market, CoinDesk reported that Binance accounted for nearly 3.99 billion DOGE in open interest, followed by Bitget, Bybit, and OKX with more than 1 billion DOGE each, and it also listed Hyperliquid, MEXC, WhiteBIT, and KuCoin as showing “sizable positions.”

CoinDesk and LesNews both tied the DOGE rally to a cluster of catalysts rather than a single headline, quoting Jordan Jefferson, founder of DogeOS and MyDoge, in a message to CoinDesk.

Jefferson told CoinDesk, “DOGE's price move isn't tied to a single news event,” and he added, “Over the past week, large holders added more than 500 million DOGE.”

CoinDesk

In the same message, Jefferson said “21Shares listed a physically backed ETP on Xetra, and Grayscale flows turned positive after nine straight days of outflows,” and he also pointed to on-chain activity, saying “On-chain activity is also up, with active addresses rising 28%.”

LesNews echoed Jefferson’s framing, stating that “The price movement of DOGE is not tied to a single news event, Jefferson explained,” and it repeated the same figures about “more than 500 million DOGE,” “21Shares launched a physically backed ETP on Xetra,” and “a 28% increase in active addresses.”

Both outlets also discussed the “X payments” angle tied to Elon Musk’s X payments ecosystem, with CoinDesk describing it as “a swing factor” and “the least concrete part of the DOGE trade.”

CoinDesk quoted Musk’s stated plan that “X Money will launch as a payments product with peer-to-peer transfers, bank deposits, a debit card and cashback rewards through X Payments, a licensed subsidiary partnered with Visa,” while also emphasizing that “Nothing in the announced product indicates support for dogecoin or any crypto functionality.”

While CoinDesk and LesNews described the futures pattern as consistent with new money flowing into DOGE, Coinpaper and CryptoRank emphasized the risk of leverage and liquidation.

“Dogecoin zooms 10%, breaking away from bitcoin as open interest hits a yearly peak Open interest in DOGE-tracked futures climbed to 15”

CoinDesk

Coinpaper said “A senior analyst at CryptoQuant has placed a seven-figure short position against Dogecoin,” identifying the trader as JA Maartun and stating that the position “targets 1 million DOGE.”

Coinpaper reported that “Maartun's exit price sits at approximately $0.09069, roughly 10% below where the token was trading at the time of his post,” and it described the rationale as “a sharp buildup in leveraged futures contracts as the primary reason for concern.”

The same Coinpaper account said DOGE futures open interest “climbed 33% in just five days,” rising “from around 505 million to approximately 683 million DOGE contracts,” and it highlighted that DOGE “traded in a narrow band between $0.094 and $0.101 throughout the same period.”

CryptoRank similarly described the setup as “a crowded, overleveraged setup that raises liquidation risk and near‑term volatility for DOGE,” and it reiterated the numbers that “DOGE futures open interest rose ~33% in five days (≈505M → ≈683M contracts since ~Apr 23).”

Both Coinpaper and CryptoRank connected the DOGE leverage picture to broader market dynamics, with Coinpaper saying “Bitcoin's Retreat Adds Weight to the Bearish Case” and reporting that Bitcoin pulled back toward $75,000 after pushing toward $79,000.

Coinpaper’s leverage warning leaned heavily on the divergence between rising futures positioning and relatively flat price action, describing it as a “classic sign of leveraged positioning rather than genuine market demand.”

It said “DOGE traded in a narrow band between $0.094 and $0.101 throughout the same period,” while “DOGE futures open interest climbed 33% in just five days,” from “around 505 million to approximately 683 million DOGE contracts.”

CryptoRank

Coinpaper framed the consequence as fragility, saying “When open interest expands without a corresponding price move, the market becomes fragile,” and it laid out how both long and short sides could be forced into fast moves.

It warned that “Overleveraged long positions become vulnerable to forced liquidation if buyers cannot push the price higher,” while “short sellers face a squeeze if sentiment shifts and a wave of buyers enters the market.”

CryptoRank echoed the same mechanics, stating that “If buyers can’t push DOGE higher, overleveraged long positions may be forced to close, sending the price down fast,” and that “If sellers miscalculate, a short squeeze can push it sharply upward instead.”

CoinDesk, by contrast, described the same broad open-interest rise as evidence of new money entering rather than unwinding, saying “The combination of rising spot price and futures OI suggests that new money is entering the market rather than old positions being closed.”

Beyond DOGE trading, Bitget’s crypto news coverage shifted to Ripple’s corporate expansion in the UAE, reporting that Ripple opened a new Middle East and Africa headquarters in Dubai to “double its regional team” as demand for regulated blockchain payments grows.

“Dogecoin Futures Open Interest Explodes As Leveraged Traders Pile In Share: - Crypto analyst JA Maartun opened a 1 million DOGE short (posted Apr 28, 2026) after DOGE futures open interest rose ~33% in five days (≈505M → ≈683M contracts since ~Apr 23) while DOGE traded narrowly at $0”

CryptoRank

The Bitget article said the new office is “based in the Dubai International Financial Centre” and is intended to support “rising demand for regulated blockchain payment and custody services across the region.”

LesNews

It named financial institutions in Ripple’s customer base, stating that the Middle East includes clients “including Zand Bank, Garanti BBVA, Absa Bank, and Chipper Cash,” and it also listed institutions such as “Zand Bank, Ctrl Alt, Garanti BBVA, Absa Bank, and Chipper Cash” as part of the region’s share of its global customer base.

Bitget quoted Ripple’s Managing Director for Middle East and Africa, Reece Merrick, saying, “From our earliest days in the UAE, we have seen first-hand the appetite from local businesses for regulated, blockchain-powered payment infrastructure, an appetite that is only growing.”

The article also quoted DIFC Authority CEO Arif Amiri, stating, “Ripple’s expansion within DIFC is a strong signal of the confidence that world-leading digital asset firms have in Dubai as a global hub for blockchain technology,” and it added that Ripple has operated with “ambition and accountability.”

Bitget further said Ripple became “the first blockchain payments provider to receive a full license from the Dubai Financial Services Authority in March 2025,” and it reported that Ripple confirmed “RLUSD, its dollar-backed stablecoin, has been approved by the DFSA as a recognised crypto token.”