The latest price of Dogecoin at 02:00 on October 03, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: October 3, 2024

As of October 3, 2024, at 02:00 UTC, Dogecoin (DOGE) is trading at $0.10586500377972, marking a decline of 1.98878933% over the past 24 hours. The digital currency has witnessed a trading volume of $1008397863.8542 over the same period.

Key Statistics:

• Current Price: $0.10586500377972
• 24-Hour Trading Volume: $1008397863.8542
• Price Change (24-hour): -1.98878933%
• Circulating Supply: 146201876383.71 DOGE
• Maximum Supply: N/A
• Total Supply: 146201876383.71 DOGE
• Market Capitalization: $15477662195.963

Analysis:

Dogecoin has experienced a downtrend over the past 24 hours, dropping in value along with the broader cryptocurrency market. Despite its initial popularity as a speculative asset, DOGE has struggled to gain traction and establish a clear use case. The recent price decline suggests that market participants are continuing to sell off their Dogecoin holdings amid ongoing volatility and uncertainty in the crypto space.

Technical indicators provide mixed signals for DOGE. The relative strength index (RSI) has fallen below 50, indicating that the market is oversold and could experience a potential price reversal. However, the moving average convergence divergence (MACD) remains bearish, with the MACD line below the signal line. This suggests that the downward momentum for DOGE may persist in the short term.

Outlook:

The future of Dogecoin remains uncertain. Its value is largely driven by speculative interest and hype, which can make it prone to volatile price swings. Investors should exercise caution when trading DOGE and carefully evaluate the risks involved.

The broader cryptocurrency market remains in a period of consolidation, with many digital assets experiencing sideways trading or a slight downtrend. Until a clear catalyst emerges to drive the market higher, Dogecoin and other altcoins may continue to face pressure.