Ethereum

Cryptocurrency

Solana

Dogecoin

<div class="finbold">
 <p class="paragraph">Dogecoin (DOGE) registered a massive spike in its <a rel="noopener noreferrer nofollow" title="derivatives" href="https://thebittimes.com/tag/derivatives.html">derivatives</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> in a 24-hour time frame, with a relevant weight compared to its market capitalization. This <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> <a rel="noopener noreferrer nofollow" title="means" href="https://thebittimes.com/tag/means.html">means</a> an increased interest by the cryptocurrency market in the leading memecoin.</p>
 <div></div>
 <p class="paragraph">Notably, Dogecoin derivatives volume more than doubled in a day, according to data from <em>CoinGlass</em> retrieved by Finbold on November 17. As of writing, speculators were trading $5.04 billion worth of DOGE using derivatives.</p>
 <p class="paragraph">The spike followed a price increase for Dogecoin in the spot market, trading at $0.083 for approximately 4% daily gains. In the meantime, other cryptocurrencies were registering losses in price and derivatives volume.</p>
 <p class="paragraph">Interestingly, the <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> happened while keeping the balance between long and short positions. Traders opened a total of $2.33 billion (49.48%) and $2.38 billion (50.52%) in each position, respectively.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="408" src="https://cdn.thebittimes.com/images/2023/11/18/9dbd3dace6b4449926f69720592496f5.webp" alt="Crypto derivatives trend. Dogecoin volume up by 110%" class="wp-image-138127" srcset="https://cdn.thebittimes.com/images/2023/11/18/9dbd3dace6b4449926f69720592496f5.webp 1024w, https://cdn.thebittimes.com/images/2023/11/18/9dbd3dace6b4449926f69720592496f5.webp 300w, https://cdn.thebittimes.com/images/2023/11/18/9dbd3dace6b4449926f69720592496f5.webp 768w, https://cdn.thebittimes.com/images/2023/11/18/9dbd3dace6b4449926f69720592496f5.webp 1536w, https://cdn.thebittimes.com/images/2023/11/18/9dbd3dace6b4449926f69720592496f5.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto derivatives trend. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-derivatives-stats-for-the-top-5-cryptocurrencies">Derivatives stats for the top 5 cryptocurrencies</h2>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/18/96ee85266c728061f81c0a3e8970083d.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="3-cryptocurrencies-to-buy-for-black-friday">3 cryptocurrencies to buy for Black Friday</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/18/5dc9fd36602650edfc916a70da349b3a.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="dogecoin-on-chain-transactions-spike-will-doge-hit-0-1">Dogecoin on-chain transactions spike; Will DOGE hit $0.1?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/18/e69c6c389cc28bfb1438c43d03184417.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="number-of-dogecoin-millionaires-plunges-by-40-in-a-year">Number of Dogecoin millionaires plunges by 40% in a year</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/18/fadd88ddb0725e7d13bb08c77828d769.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="short-squeeze-alert-for-november-10-two-cryptocurrencies-with-potential-to-skyrocket">Short squeeze alert for November 10: Two cryptocurrencies with potential to skyrocket</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/18/921b5104efdc752f986adf7498c700c0.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="doge-sandwiched-between-crucial-price-walls-breakout-soon">DOGE ‘sandwiched’ between crucial price walls; Breakout soon?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">It is also possible to see other cryptocurrencies’ performances in the same “Crypto Derivatives Trend” dashboard used to retrieve Dogecoin’s data.</p>
 <p class="paragraph">Bitcoin’s (BTC) derivatives volume was falling by 24.54% to $45.66 billion worth of contracts, for 6% of its $711 billion market capitalization. Meanwhile, Ethereum (ETH) lost 14.42% of daily volume to $23.62 billion, accruing more than 10% of its $233 billion market cap.</p>
 <p class="paragraph">At the same time, Solana (SOL) lost 5.56% to $8.68 billion in <a rel="noopener noreferrer nofollow" title="derivatives" href="https://thebittimes.com/tag/derivatives.html">derivatives</a> <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>. The XRP Ledger (XRP) had the smallest <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> among the top 5, with $1.75 billion and a daily loss of 3.67%.</p>
 <p class="paragraph">Essentially, XRP’s derivatives volume represents 5.3% of its $32.58 billion market capitalization, slightly weighting toward short positions with a 52.50% domination over longs. As for comparison, Dogecoin’s current volume represents 42% of its $11.83 billion market cap.</p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dogecoin-derivatives-volume-surge-by-110-here-is-what-it-means-for-doge-tbt70776.html">https://thebittimes.com/dogecoin-derivatives-volume-surge-by-110-here-is-what-it-means-for-doge-tbt70776.html</a></p>

Dogecoin derivatives volume surge by 110%; Here is what it means for DOGE

Table of Contents

TheBitTimes

Other articles published on Nov 18, 2023

Avalanche (AVAX) and Near Protocol (NEAR) Tokens Rally with 8% and 7% Gains

Fidelity enters the race for Ethereum ETF

Bitcoin Rally Replay: Derivatives Market Hints at Historic 2021 Performance

Ripple CTO David Schwartz Reveals Strategic Move for XRP Ledger: Here are the Details!

Crypto Prices Today: Pepe Coin Slips With BTC, TIA Rising

We Asked ChatGPT Which Coins Could Give Gains Before The End Of The Year

Join our free newsletter for daily crypto updates!