Despite the price rebound, Dogecoin volume is still low, what’s going on?
Dogecoin’s price has been on a rebound, and Bitcoin is once again heading towards its all-time highest level. The $110,000 break triggered an altcoin after Ethereum price increased by 10% in a day, and Dogecoin has also scored more than 5% rebounds afterward. However, the number of meme coins has not yet risen as expected, which may indicate that investors have low market participation during this time.
Dogecoin volume is still muted
Despite rebounding to $0.2, Dogecoin volume did not jump significantly during this period. In fact, the quantity is well below the level seen in May and continues to be trending at levels recorded during the market decline. This may mean that Dogecoin only follows the market direction and is not necessarily driven by its own factors.
Dogecoin’s daily trading volume is still below $5 billion, according to Coinglass. This is very low compared to the level where Doge transaction volume increases to, especially during periods of rapid recovery.
In the context, as early as February, Dogecoin’s daily trading volume has risen by the $10 billion mark as the market struggles. Then, back in May 2025, Meme Coin once again crossed the $10 billion mark when it resumed the market, while Doge launched over $0.25.
But so far, dog trading volume has not reached $10 billion even after nearly two weeks. The highest daily sales recorded so far this month was $5.89 billion on June 6, due to the shorter time when the market was knocked down.
Open interest indicates no obvious move
While with Doge’s daily trading volume, Dogecoin’s open interest has not recorded any obvious moves during this period. Open interest in meme coins has remained stable since the beginning of this month, with an average of about $2 billion a day.
This shows that cryptocurrency traders have taken no action and have opened up more positions at the same time. It also points to the fact that investors are waiting to see the role of the market before taking action. As of June 11, Dogecoin’s open interest price was $2.1 billion, down from $2.5 billion recorded at the end of May.
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