February 6, 2025 at 02:00 Dogecoin latest price

(24-hour Dogecoin price trend)

Dogecoin Price Analysis: DOGE Dips 6% as Market Sentiment Shifts

As of February 6, 2025, 02:00 UTC, Dogecoin (DOGE) is trading at $0.25449586297127, down by 6.06943012% in the last 24 hours. The 24-hour trading volume for DOGE stands at $2,404,043,109.2956.

Key Statistics:

• Circulating Supply: 147,922,796,383.71
• Maximum Supply: N/A
• Total Supply: 147,922,796,383.71
• Market Cap: $37,645,739,718.795

Recent Market Trends:

The broader cryptocurrency market has been experiencing a period of volatility in recent days. Bitcoin, the largest cryptocurrency by market capitalization, has also seen a decline in its value. This has had a ripple effect on the altcoin market, including Dogecoin.

Technical Analysis:

From a technical perspective, DOGE is facing resistance at the $0.258 level. A break above this level could lead to a potential rally towards the $0.280 mark. However, if the price falls below the $0.240 support level, it could trigger a further decline.

Market Sentiment:

Market sentiment towards Dogecoin remains mixed. Some traders believe that the recent dip is a buying opportunity, while others remain cautious due to the ongoing market uncertainty. The relative strength index (RSI) for DOGE is currently at 52.77, indicating that the asset is neither overbought nor oversold.

Conclusion:

Dogecoin has experienced a downturn in the past 24 hours, following the broader market sentiment. The asset is currently facing resistance at the $0.258 level, and a break below the $0.240 support level could trigger a further decline. Market sentiment towards DOGE remains mixed, and traders should exercise caution before making any decisions.