The latest price of Dogecoin at 07:00 on September 23, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Update: A Decline in Value

As of September 23, 2024, 7:00 AM UTC, the latest price of Dogecoin (DOGE) stands at $0.10623578761006. Over the past 24 hours, the cryptocurrency has experienced a decline in value of 3.2424696%, driven by a trading volume of $489,641,768.29259.

Supply and Market Situation

Dogecoin has a circulating supply of approximately 146,068,086,383.71, with an uncapped maximum supply. The total supply is identical to its circulation, meaning no additional coins can be created. As a result, the cryptocurrency's supply and scarcity status remain unchanged.

The market capitalization of Dogecoin, calculated by multiplying its circulating supply by its current price, stands at $15,517,658,201.666. This figure represents the total estimated value of all Dogecoins in circulation.

Historical Outlook

Dogecoin, initially created as a joke in 2013, has witnessed significant price volatility over the years. It has experienced both substantial surges and dips in value. In early 2021, the cryptocurrency soared to its highest-ever price of $0.7376, fueled by a combination of Elon Musk's endorsement and a surge in retail trading. However, it has since faced downward pressure and has not yet recovered its former peak.

Conclusion

The recent decline in Dogecoin's value is a reminder of the unpredictable nature of the cryptocurrency market. Despite its widespread recognition and initial surge in popularity, its price remains susceptible to market fluctuations and external factors. Investors considering Dogecoin should proceed with caution and conduct thorough research before making any commitments.