The Dogecoin price stood at $0.0932 on Monday evening, 4.2 percent below its level of 24 hours earlier. In euro terms that is about €0.0822. The real story is not in that number, though, but in where it is set: trading in Dogecoin now takes place mainly on the derivatives market, and according to data from the analytics firm CoinGlass, roughly $1.5 billion in leveraged positions are open there. Measured against a market capitalisation of $14.5 billion, a good tenth of the entire Dogecoin market therefore rests on contracts that are closed by force as soon as the price moves a few percent the wrong way.