February 7, 2025 at 14:00 Dogecoin latest price

(24-hour Dogecoin price trend)

Dogecoin Price Analysis: DOGE Dips Despite Bullish Momentum

February 7, 2025, 2:00 PM EST

Dogecoin (DOGE) has experienced a slight decline in its value despite showing bullish momentum in recent weeks. As of 2:00 PM EST, DOGE is trading at $0.24827600338903, marking a 6.3664838% decrease over the past 24 hours.

Key Market Statistics

• Current Price: $0.24827600338903
• 24-Hour Trading Volume: $1922267137.9083
• Percentage Change in 24 Hours: -6.3664838%

Supply and Market Capitalization

• Circulating Supply: 147943076383.71
• Maximum Supply: N/A
• Total Supply: 147943076383.71
• Market Capitalization: $36730715733.624

Recent Market Performance

Dogecoin has been on a rollercoaster ride in recent months, experiencing both significant gains and losses. The coin's price surged in mid-January, reaching highs of over $0.30 before retracing. However, over the past week, DOGE has shown signs of recovery, climbing from lows of around $0.23.

Technical Indicators

Technical indicators suggest a mixed outlook for Dogecoin. The Relative Strength Index (RSI) is hovering around 50, indicating that the asset is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) is also neutral, with the signal line crossing below the MACD line.

Factors Influencing the Price

Several factors could be influencing the current price decline of Dogecoin:

• Profit-taking: With DOGE's recent gains, some investors may be taking profits and selling their holdings.
• Increased selling pressure: The increase in trading volume over the past 24 hours suggests increased selling pressure on DOGE.
• Market volatility: The broader cryptocurrency market has experienced volatility in recent days, which may have spilled over into DOGE's market.

Conclusion

Despite the short-term price dip, Dogecoin remains a popular and highly traded cryptocurrency. Investors should carefully consider the market conditions and technical indicators before making any investment decisions. Long-term investors should monitor the coin's price action and fundamental developments closely.