The extreme data in the DOGE futures market has recently attracted a lot of attention. A contract open interest of $12.25 billion compared to a spot price of $0.1227 indeed warrants further thought. At the same time, trading volume has decreased by 28.18%, creating an interesting paradox: funds are flowing into the futures market while spot trading remains quiet.

Why does this situation occur? Several perspectives can explain it. First, from a technical standpoint, DOGE's RSI indicator has fallen to 38, indicating a typical oversold condition. This signal is quite sensitive for short-term traders—oversold often means a rebound opportunity. Many traders leverage futures to amplify this opportunity, betting on a subsequent price recovery. This is a common short-term trading logic.

Second, from a capital perspective, the end-of-year performance push is indeed present. Institutions and professional traders usually increase their positions before year-end settlements. Meme coins, due to their large volatility and potential for significant gains, have become key targets for such funds. As a leading project in the meme coin sector, DOGE naturally attracts considerable attention from investors.

However, there is a detail to note: while futures contract volume has surged, trading volume has declined, indicating that market participation is actually low. This may suggest that the market is in a wait-and-see mode, awaiting clearer directional signals. In this oversold environment, if you are a beginner, it is advisable to observe the trend for one to two weeks to confirm, rather than rushing to follow the trend. An oversold rebound has a high probability, but the magnitude and timing of the rebound are uncertain. Managing risk properly is always more important than chasing short-term gains.