The latest price of Dogecoin at 00:00 on November 06, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Surges by 10% in 24 Hours, Reaching $0.174

As of November 6, 2024, 00:00 UTC, Dogecoin (DOGE) has experienced a significant price increase of 10.27678901% over the past 24 hours. Its current value stands at $0.17456854156945.

The latest data shows that the 24-hour trading volume for DOGE has reached $3683665524.4811, indicating a healthy market activity.

Supply Metrics

The circulating supply of Dogecoin is reported to be 146666046383.71, while its maximum supply and total supply remain unspecified. This suggests that DOGE has a limited available supply, potentially contributing to its price appreciation.

Market Capitalization

With its current price and circulating supply, Dogecoin's market capitalization has increased to $25603277814.961. This places DOGE among the top cryptocurrencies by market capitalization.

Factors Driving the Price Surge

The recent price surge for DOGE can be attributed to several factors, including:

• Renewed interest in meme coins: Dogecoin has gained popularity as a beloved meme coin, attracting a large community of supporters. Increased demand and hype around meme coins have contributed to the price rally.
• Positive industry news: Recent developments in the cryptocurrency industry, such as the announcement of major collaborations and partnerships, have fueled optimism and boosted prices across the market, including DOGE.
• Elon Musk's influence: Elon Musk, the CEO of Tesla and Twitter, remains a vocal supporter of Dogecoin. His tweets and statements often have a significant impact on the coin's price.

Conclusion

Dogecoin's recent price increase reflects the ongoing volatility and speculative nature of the cryptocurrency market. While the factors driving the surge are positive, it is important to note that cryptocurrencies can be highly unpredictable. Investors should exercise caution and conduct thorough research before making any investment decisions.