The latest price of Dogecoin at 05:00 on September 12, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Bearish Trend Continues

As of September 12, 2024, 5:00 AM (UTC), the price of Dogecoin (DOGE) stood at $0.10179245011894, marking a 24-hour trading volume of $531,037,035.42232. Over the past 24 hours, the value of DOGE has declined by 1.19765515%.

Key Metrics

• Circulating Supply: 145,916,536,383.71 DOGE
• Maximum Supply: Not applicable
• Total Supply: 145,916,536,383.71 DOGE
• Market Capitalization: $14,853,201,751.367

Market Overview

The price drop observed in the past 24 hours suggests a bearish trend for Dogecoin. The overall cryptocurrency market has been experiencing a period of volatility, which has also impacted DOGE's price.

Technical Analysis

Technical analysis indicates that DOGE is currently trading below its support level of $0.102, which is a sell signal. Additionally, the Relative Strength Index (RSI) is below 50, indicating that the asset is in an oversold condition. This suggests that the price may continue to fall in the short term.

Investment Considerations

Investors considering purchasing Dogecoin should exercise caution. The bearish trend suggests that the price is likely to decline further in the coming days. However, long-term investors may consider buying the dip if the price falls below $0.10.

About Dogecoin

Dogecoin is a decentralized, peer-to-peer cryptocurrency created as a joke in 2013. It has subsequently gained popularity as a form of payment and investment. DOGE is known for its low price point and large supply, which makes it accessible to a wide range of investors.