Glassnode: The open interest of MEME contracts across the network has significantly declined from its peak, and the market sentiment may have already shifted.

BlockBeats news, on February 19th, Glassnode posted on social media that since reaching its peak in mid-December 2024, the total network Meme contract holdings have significantly declined from the peak, with DOGE’s contract holdings (7-day moving average) falling by 58.45%, from $35.8 billion on December 9, 2024 to $14.9 billion today. Other high market cap Meme tokens have also ‘unloaded’ a significant amount of leverage, including (contract holdings in parentheses): · PEPE: -71.93% ($12.5 billion → $3.51 billion) · BONK: -75.10% ($7.15 billion → $1.78 billion) · WIF: -69.83% ($6.53 billion → $1.97 billion) · SHIB: -74.41% ($323 million → $83 million) · FLOKI: -69.18% ($41.7 million → $12.9 million) Glassnode stated that the trend of declining contract holdings is apparent, and the holdings of all Meme tokens have been significantly adjusted. This may indicate a loss of leverage, but it also indicates a change in sentiment across the entire Meme token sector.