news 
Trillionaires Disappearing? Worrying Data
Arman Shirinyan
According to Glassnode, Futures Open Interest across the meme coin sector has dropped significantly since their peaks. Open Interest is the total number of outstanding futures or options contracts on a market. It indicates the current trading activity and speculative behavior on the market. It may also be used to determine market liquidity.
According to a recent Glassnode analysis, the DOGE Futures Open Interest seven-day moving average fell by 58.45%, from $3.58 billion, on Dec. 9, 2024, to $1.49 billion. Other meme coins performed similarly; SHIB, albeit with lower total OI, also experienced declines. SHIB open interest fell 74.41%, from $323 million to $83 million.
This can point to leverage flushing out but also signal a shift in sentiment across the meme coin sector.
At the time of writing, SHIB was down 0.06% in the last 24 hours to $0.00001545 and down 4.73% weekly.
Source: u.today
