PepeCoin

dogwifhat

<ul><li>Pepe (PEPE) and Dogwifhat (WIF) entered the top 20 cryptocurrencies by market cap within a year.</li><li>PEPE has $802.6M in open interest, nearly half of Solana&#39;s $1.7B.</li><li>Bitcoin (BTC) leads in open interest with $11.1B, followed by Ethereum (ETH) at $9.15B.</li></ul>Memecoins such as Pepe (PEPE) and Dogwifhat (WIF) have catapulted into the limelight, securing positions <a href="https://coinmarketcap.com/view/memes/" rel="noopener noreferrer nofollow">among</a> the top 20 cryptocurrencies by market capitalization within just a year of their launch. As of now, the bullish sentiment in the crypto leverage market is palpable with traders engaging heavily in both short and long positions on these tokens.Leading the memecoin charge, Pepe (PEPE) has <a href="https://www.coinglass.com/currencies/1000PEPE" rel="noopener noreferrer nofollow">amassed</a> an open interest (OI) of $802.6 million, which is nearly half of that held by <a href="https://www.coinglass.com/currencies/SOL" rel="noopener noreferrer nofollow">Solana</a> (SOL), standing at $1.7 billion. This interest extends across the crypto sphere with Dogecoin (DOGE), Bonk (BONK), and Dogwifhat (WIF) also making notable <a href="https://www.coinglass.com/FundingRate" rel="noopener noreferrer nofollow">appearances</a> in the top 10 OI rankings. Despite these figures, Bitcoin (BTC) remains the undisputed leader with a staggering $11.1 billion in OI, followed by Ethereum (ETH) at $9.15 billion.This surge in memecoin OI, especially in the past weeks, <a href="https://coinmarketcap.com/currencies/pepe/" rel="noopener noreferrer nofollow">corresponds</a> with Pepe hitting new all-time highs and WIF reaching a multi-week peak above $3.30. Open interest, a term referring to the sum of outstanding derivative contracts yet to be settled, serves as a gauge for market sentiment. An increase in OI typically signals a bullish outlook as traders anticipate ongoing price momentum.<a href="https://cryptotale.org/cryptocurrency-market-update-bitcoin-below-69k-ethereum-leads-gains/" rel="noopener noreferrer nofollow">Source - </a><a href="https://cryptotale.org/memecoin-surge-highlights-analysis-of-open-interest-and-market-movements/" rel="noopener noreferrer nofollow">https://cryptotale.org/memecoin-surge-highlights-analysis-of-open-interest-and-market-movements/</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Memecoin Surge Highlights: Analysis of Open Interest and Market Movements

CryptoTale

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