The latest price of Dogecoin at 07:00 on October 9, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: October 9, 2024

As of 7:00 AM EST on October 9, 2024, Dogecoin (DOGE) is trading at $0.10670697872671, with a 24-hour trading volume of $625,334,221.50491. The price of DOGE has decreased by 3.01846406% in the past 24 hours.

Key Statistics:

• Circulating Supply: 146,286,866,383.71
• Maximum Supply: N/A
• Total Supply: 146,286,866,383.71
• Market Cap: $15,609,829,539.203

Technical Analysis:

• MACD (Moving Average Convergence Divergence): Bearish crossover on the daily chart, indicating a potential reversal of the uptrend.
• RSI (Relative Strength Index): Currently at 45, indicating a neutral market sentiment.
• Stochastic Oscillator: Oversold, suggesting a possible price bounce.
• Bollinger Bands: Price is nearing the lower Bollinger band, indicating a potential oversold condition.

Market Outlook:

The recent decline in DOGE's price is likely due to a combination of factors, including:

• The broader market downturn in cryptocurrencies.
• Concerns over the lack of utility and scalability of DOGE.
• Profit-taking by investors who purchased DOGE at a lower price.

While the short-term outlook for DOGE is uncertain, the long-term prospects of the cryptocurrency remain positive. DOGE has a strong community of supporters and its popularity has been endorsed by several high-profile individuals, including Elon Musk.

Disclaimer:

This analysis is for informational purposes only and should not be construed as investment advice. Always conduct your own research and due diligence before making any investment decisions.