The latest price of Dogecoin at 08:00 on August 17, 2024

(24-hour Dogecoin price trend)

Dogecoin Surges Amidst Market Uptrend

At 08:00 AM on August 17th, 2024, Dogecoin (DOGE) is trading at $0.10043750022766, marking a 24-hour volume of $539,783,356.34215. Over the past 24 hours, DOGE's price has witnessed a surge of 0.16557959%.

Supply and Circulation

Bitcoin's current circulating supply stands at 145,563,156,383.71 Dogecoins, while the maximum supply remains unknown. The total supply is capped at 145,563,156,383.71 Dogecoins, resulting in a circulating market capitalization of $14,619,999,552.428.

Market Sentiment

The recent price action of DOGE reflects the overall bullish sentiment prevalent in the cryptocurrency market. Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have also experienced notable gains in the past 24 hours, driving the broader market higher.

Factors Influencing DOGE's Price

Several factors may have contributed to the recent rise in DOGE's price, including:

• Increased retail interest: Growing adoption and awareness of cryptocurrencies among retail investors have boosted demand for DOGE.
• Social media sentiment: Dogecoin has a strong online presence and community, which often influences its price movements.
• Elon Musk's support: Tesla CEO Elon Musk's repeated endorsements have helped Dogecoin gain legitimacy and visibility.

Outlook

The cryptocurrency market remains volatile, and DOGE's price can fluctuate significantly in the short term. However, the overall market trend appears positive, which could provide support for further price gains for DOGE. Investors are advised to conduct their own research and exercise caution when trading cryptocurrencies.