The latest price of Dogecoin at 07:00 on October 17, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Update: October 17, 2024

As of October 17, 2024, 7:00 AM UTC, Dogecoin (DOGE) is trading at $0.12634068922876. The 24-hour trading volume is $2,275,013,475.9337, representing a 9.04225357% increase over the last day.

Supply and Market Capitalization

The current circulating supply of Dogecoin is 146,396,236,383.71, while its maximum supply and total supply are unknown. The market capitalization of Dogecoin is $18,495,801,405.213.

Historical Performance

Dogecoin, also known as the "dog coin," has experienced significant price fluctuations throughout its history. In 2021, the cryptocurrency skyrocketed in value, driven by tweets from Elon Musk and a surge in retail trading. However, the market has since cooled down, and Dogecoin's price has retraced from its all-time high of $0.7376.

Market Factors Influencing Price

Various factors, including:

• Cryptocurrency market conditions: The overall sentiment and performance of the broader cryptocurrency market significantly impact the price of individual cryptocurrencies such as Dogecoin.
• Regulatory and legislative developments: Government regulations and legislative changes can affect the perception and use of cryptocurrencies, influencing their prices.
• Social media and influencer hype: Dogecoin has a dedicated online community and has been supported by prominent individuals like Elon Musk. Social media buzz and influencer support can drive price speculation.

Conclusion

Dogecoin's price remains volatile, and its future performance is subject to market dynamics. While its recent price increase may signal renewed interest, it's essential to remember that past performance does not guarantee future results. Investors should conduct thorough research and exercise caution before making investment decisions.