The latest price of Dogecoin at 06:00 on August 5, 2024

(24-hour Dogecoin price trend)

Dogecoin Price Analysis: DOGE Slumps, Losing Over 3%

As of August 5, 2024, 6:00 AM UTC, Dogecoin (DOGE) is trading at $0.1045364611467, with a 24-hour trading volume of $803,313,276.71526. Over the past 24 hours, DOGE has experienced a notable decline of -3.09145668%.

Key Metrics:

• Circulating Supply: 145,399,886,383.7 Doge
• Maximum Supply: Unlimited
• Total Supply: 145,399,886,383.7 Doge
• Market Cap: $15,199,589,573.685

Analysis:

Dogecoin has faced downward pressure in the past 24 hours, losing over 3% of its value. This decline is likely influenced by the broader market correction that has affected most cryptocurrencies. Bitcoin (BTC), the dominant cryptocurrency, has also experienced a downward trend, which often has a ripple effect on the altcoin market.

Despite the recent setback, Dogecoin remains one of the most popular cryptocurrencies, with a strong and loyal community. Its low price and high liquidity make it accessible to a wide range of investors and traders.

Future Outlook:

The future of Dogecoin is uncertain, as with any cryptocurrency. However, its popularity and the support of its community suggest that it has the potential for continued growth and adoption. Market conditions and fluctuations in the broader cryptocurrency market will continue to play a significant role in shaping the price of DOGE.