#GT 2025 Q2 Burn Completed

# DOGE #Altcoin ETF Watch
- Dogecoin addresses reach an all-time high
The number of Dogecoin network addresses maintains positive expectations, reaching an all-time high of around 108 million. According to Glassnode data, this growth represents a 5% increase from the January 4 level of approximately 103 million as of July 4.

Network growth indicates an increasing interest in DOGE, which directly affects the adoption of the token. A 5% increase in addresses suggests that more users are joining the ecosystem, reflecting a significant rise in retail interest. This adoption is likely to lead to an increase in demand, which enhances the risk-taking trend, making steady price increases more likely.

Despite the significant increase in network activity over the past six months, speculative interest in meme coins remains noticeably weak. According to CoinGlass data, the open interest (OI) for Dogecoin futures contracts is much lower than the levels recorded at the beginning of the year.

The chart below shows that the open interest value (OI) reached around 2 billion US dollars, down from about 5.42 billion US dollars on January 18. There was an attempt to recover in May. However, interest in Dogecoin derivatives has waned with the open interest (Open Interest) decreasing, which indicates the value of all futures and options contracts that have not been settled or closed yet, averaging 3 billion US dollars.

The downward pressure on the price of Dogecoin is still evident, considering the total liquidations of $3.84 million over the past twenty-four hours. Long positions account for $3 million of the cumulative total, with nearly $837 million lost from short positions.