February 16, 2025 at 19:00 Dogecoin latest price

(24-hour Dogecoin price trend)

Dogecoin Prices Flounder as Market Sentiment Sours

As of February 16, 2025, 7 PM, Dogecoin (DOGE) was trading at $0.27045623901823, reflecting a 24-hour trading volume of $1222397374.3478. Over the past day, DOGE's price has declined by -2.53146267%.

Supply and Distribution

The circulating supply of Dogecoin currently stands at 148068666383.71, while its maximum supply is not specified. The total supply is 148068666383.71 DOGE, resulting in a circulating market cap of $40046094626.582.

Market Dynamics

The decline in DOGE's price can be attributed to several factors affecting the broader cryptocurrency market. Bitcoin (BTC), the bellwether cryptocurrency, has also been experiencing a downturn in recent days, denting investor confidence.

Additionally, the latest macroeconomic developments, such as rising interest rates and inflation concerns, have created an unfavorable environment for riskier assets like cryptocurrencies. This has led to a sell-off in the crypto market, including DOGE.

Outlook and Analysis

The short-term price trend for Dogecoin remains uncertain. The cryptocurrency has been unable to break above key resistance levels, indicating continued selling pressure. Technical indicators suggest that DOGE could face further declines in the coming days.

However, it's important to note that the cryptocurrency market is highly volatile and can experience sudden shifts in sentiment. Positive news or developments could potentially trigger a bullish reversal for DOGE. Investors should closely monitor the market conditions and exercise caution before making any trading decisions.