The latest price of Dogecoin at 04:00 on October 13, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Bullish Momentum with a 0.66% Gain

As of October 13, 2024, 04:00 AM UTC, the current price of Dogecoin (DOGE) stands at $0.11156755233378. This represents a 0.66051901% increase over the past 24 hours. The 24-hour trading volume for DOGE is $550,478,586.30469.

Circulating and Total Supply

The circulating supply of Dogecoin is 146,339,746,383.71. The maximum supply and total supply for DOGE are both unknown.

Market Capitalization

The market capitalization of Dogecoin is currently $16,326,767,313.176. This makes DOGE one of the top cryptocurrencies by market cap.

Price Analysis

The price of Dogecoin has been on an upward trend in recent days. After bottoming out at $0.11099464092514 on October 11, 2024, DOGE has gained value to reach its current price.

Technical indicators suggest that DOGE may continue to rise in the short term. The Relative Strength Index (RSI) is above 50, indicating that the market is currently bullish. The Moving Average Convergence Divergence (MACD) is also positive, indicating a potential for further upward momentum.

Factors Influencing Price

Several factors may be influencing the current price of Dogecoin:

• Increased adoption: DOGE is gaining popularity as a payment method, especially among smaller merchants.
• Elon Musk's support: Elon Musk, the CEO of Tesla and SpaceX, is a vocal supporter of DOGE. His tweets about DOGE can have a significant impact on its price.
• FOMO: Fear of missing out (FOMO) can also contribute to price increases. As DOGE continues to gain value, more investors may jump in to avoid missing out on potential profits.

Conclusion

Dogecoin is currently experiencing a bullish trend and is showing potential for further gains in the short term. However, investors should exercise caution and conduct thorough research before making any trading decisions. The cryptocurrency market is highly volatile, and sudden price fluctuations can occur.