20:00 on February 03, 2025

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: February 3, 2025, 8:00 PM UTC

At the time of writing, Dogecoin's (DOGE) latest price is $0.25354449245403, with a 24-hour trading volume of $10,868,509,513.199. The price of Dogecoin has witnessed a decline of 13.13377064% in the last 24 hours.

Key Statistics:

• Circulating supply: 147,892,056,383.71 DOGE
• Maximum supply: None
• Total supply: 147,892,056,383.71 DOGE
• Market capitalization: $37,497,216,373.789

Trend Analysis:

Dogecoin has been facing a downtrend in the past 24 hours, with a significant drop in price. This decline can be attributed to several factors, including:

• Market correction: The broader cryptocurrency market has experienced a slight correction in recent days, which has affected DOGE's price negatively.
• Profit-taking: Some investors may be taking profits after the recent surge in DOGE's price.
• Increased supply: With the recent increase in DOGE's issuance due to mining, the supply surplus may have contributed to the price decrease.

Outlook:

The short-term outlook for Dogecoin remains uncertain. While the current downtrend may continue in the immediate future, it's important to note that DOGE has historically shown resilience and potential for volatility. Long-term investors should monitor market developments closely and consider their risk tolerance before making any investment decisions.