The latest price of Dogecoin at 06:00 on August 19, 2024

(24-hour Dogecoin price trend)

Dogecoin Price Update

As of August 19, 2024 at 6:00 AM, the latest price of Dogecoin (DOGE) is $0.1012402104026. The 24-hour trading volume stands at $354,652,330.13064, representing a significant decline of -1.52297341% in the past 24 hours.

Key Statistics

• Circulating Supply: 145,589,436,383.71 DOGE
• Maximum Supply: Unlimited
• Total Supply: 145,589,436,383.71 DOGE
• Market Cap: $14,739,505,171.882

Market Trend

Despite the recent price drop, Dogecoin has shown some signs of stability over the past week. However, the overall trend remains bearish, with the price declining by over 20% since the beginning of August.

Factors Influencing Price

The current Dogecoin price is influenced by a number of factors, including:

• Overall market conditions: The cryptocurrency market as a whole is experiencing a downturn, with many major cryptocurrencies losing value.
• Elon Musk's support: Elon Musk, the CEO of Tesla and SpaceX, has been a vocal supporter of Dogecoin, and his tweets have often impacted its price.
• Competition: Dogecoin faces competition from other meme coins and established cryptocurrencies, which can affect its market share.

Investment Considerations

Investors should carefully consider the risks and potential returns before investing in Dogecoin. The cryptocurrency market is highly volatile, and the price of DOGE could fluctuate significantly in both directions. Additionally, Dogecoin's supply is theoretically unlimited, which could potentially lead to inflation and price erosion over time.