The latest price of Dogecoin at 06:00 on August 2, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Update and Market Analysis

As of August 2, 2024, 6:00 AM UTC, the latest price of Dogecoin (DOGE) stands at $0.1179, recording a 24-hour trading volume of $824,111,128.56. Over the past 24 hours, DOGE has witnessed a decline of -3.59%.

Key Metrics

• Current Price: $0.1179
• 24 Hour Trading Volume: $824,111,128.56
• 24 Hour Price Change: -3.59123344%
• Circulating Supply: 145,359,446,383.71 DOGE
• Maximum Supply: N/A
• Total Supply: 145,359,446,383.71 DOGE
• Market Cap: $17,144,443,065.64

Market Performance

DOGE's price has exhibited a downward trajectory in the past 24 hours, echoing the broader market trend. The cryptocurrency market has been experiencing volatility, with several major coins facing sell-offs.

Despite the recent decline, DOGE remains a popular digital asset among retail investors. Its strong online community and prominent role in the meme culture continue to drive its appeal.

Technical Analysis

From a technical perspective, DOGE is trading within a bearish trend channel. The recent price action suggests that the bears are in control, and further downside moves could be in the pipeline.

The Bollinger Bands indicator shows that DOGE's price is close to the lower Bollinger Band, indicating a potential oversold condition. However, the Relative Strength Index (RSI) is slightly above 30, suggesting that there is still room for further price declines.

Outlook

The immediate outlook for DOGE remains bearish. The cryptocurrency has broken its previous support level and is now trading below the 100-day moving average. The market sentiment is also negative, which could weigh down on the price further.

However, it's important to note that the cryptocurrency market is highly volatile, and unexpected moves can always happen. Investors should exercise caution and consider their risk tolerance before making any investment decisions.