DOGE +9.6% to $0.0893: OI Hits $1.16B, Shorts Paid 85%
DOGE pushes to a fresh 24-hour high near $0.09
DOGE is trading at $0.0893, up 9.6% over the past 24 hours, after tagging a local high of $0.08997 in the last session. The move started from a low of $0.0808, so the intraday range already covers about 11% and the rally has not stalled at round-number resistance. On Binance the pair prints $0.08934 with a 24-hour range of $0.08085 to $0.08997, and OKX matches it closely at $0.08958, which keeps the move on solid footing rather than a thin-order-book spike.
The broader tape is helping. Bitcoin sits above $81,000 and most large caps are green, but the meme token is running ahead of the majors with roughly $1.74 billion in 24-hour volume, the strongest meme-coin turnover of the day. Buyers have absorbed every dip since the $0.0808 low, and each retest has held, which points to spot demand rather than a single leverage-driven candle.
Open interest climbs 9.3% to $1.16 billion
Futures positioning is growing with the price, not against it. Aggregate DOGE open interest sits at $1.16 billion, up 9.3% in 24 hours, and the build is broad across venues. Binance added 14.7% and still holds the largest share at 22.1%, Bybit is up 12.2%, Gate rose 9.1% and OKX added 7.7%. That pattern matters: when a rally runs on rising open interest, new money is entering positions, not just covering old ones.
The increase is orderly so far. Funding rates across major exchanges sit near 0.01% per eight hours, which is essentially neutral. Leveraged longs are not paying a heavy premium to stay in the trade, so the setup has not entered the overheated zone that usually precedes a violent unwind. The risk builds only if funding starts climbing toward 0.05% or higher while price stalls.
Shorts carried 85% of DOGE liquidations
Liquidation data shows who was on the wrong side. The coin recorded about $7.2 million in liquidations over 24 hours, and shorts accounted for 85% of that total, roughly $6.1 million, versus $1.07 million from longs. The flush is consistent with a short-squeeze component on top of genuine buying: sellers who bet on a rejection below $0.09 were forced to cover as the pair pushed through prior swing highs.
The squeeze is still small in dollar terms next to the $1.16 billion of open interest, which is another sign the move is not exhausted. Shorts have been punished, but not cleared out to the point where fuel for the next leg is gone. If the pair holds above $0.089 into the next funding window, the burden stays on sellers to defend $0.09 and above.
What to watch now
The key level is the $0.089 to $0.09 zone. A close above it with open interest still climbing would open the path toward the $0.095 area, while a fade back under $0.086 would signal that the flush of shorts was the main driver and the rally needs a fresh catalyst. Funding is the tell for leverage: a spike toward 0.05% with price stalling would warn of a crowded long side, while funding staying flat at 0.01% keeps the current move sustainable.
Data as of 02:10 Beijing time, covering Binance, OKX, Bybit, Gate, Bitget, Hyperliquid and other major exchanges.