The latest price of Dogecoin at 01:00 on November 01, 2024

(24-hour Dogecoin price trend)

Dogecoin's Price Dips Amidst Market Correction

At 01:00 UTC on November 1, 2024, Dogecoin (DOGE) was trading at $0.16596265243984, with a 24-hour trading volume of $1,944,074,028.2584. DOGE's price dropped by -0.55061428% in the past 24 hours.

Key Metrics

• Current Price: $0.16596265243984
• 24-Hour Trading Volume: $1,944,074,028.2584
• Price Change (24 hours): -0.55061428%
• Circulating Supply: 146,598,566,383.71 DOGE
• Maximum Supply: None
• Total Supply: 146,598,566,383.71 DOGE
• Market Cap: $24,329,886,920.918

Market Context

Dogecoin's price decline mirrors a broader correction in the cryptocurrency market. Bitcoin, the leading digital asset, has also experienced a slight dip in value, albeit to a lesser extent. The broader market correction may be attributed to geopolitical uncertainty, rising interest rates, and a decline in risk appetite among investors.

Dogecoin's Fundamentals

Despite the short-term price fluctuations, Dogecoin continues to enjoy strong community support. The project boasts a loyal following of enthusiastic users who believe in its long-term potential. Moreover, Dogecoin's low transaction fees and accessibility have made it popular for everyday transactions and micropayments.

Conclusion

The recent dip in Dogecoin's price is a reminder of the volatility associated with cryptocurrency markets. However, DOGE's underlying fundamentals remain strong, and its loyal community continues to drive its adoption.