The latest price of Dogecoin at 09:00 on August 11, 2024

(24-hour Dogecoin price trend)

Dogecoin Price and Market Analysis

As of August 11, 2024, 09:00 UTC, Dogecoin (DOGE) is priced at $0.10619203891125, with a 24-hour trading volume of $360,341,078.88314. The price of Dogecoin has increased by 2.38246767% in the past 24 hours.

Key Statistics

• Circulating Supply: 145,482,516,383.71
• Maximum Supply: Unlimited
• Total Supply: 145,482,516,383.71
• Market Cap: $15,449,085,040.725

Historical Performance

Dogecoin, launched in 2013, has experienced significant price fluctuations throughout its history. It gained popularity as a "meme" cryptocurrency and reached its peak price of $0.76372139947556 on May 8, 2021. However, its price has since declined and has remained relatively stable below $0.20 in recent months.

Factors Influencing Dogecoin's Price

The price of Dogecoin is influenced by various factors, including:

• Market sentiment: Speculation and social media hype can significantly impact Dogecoin's price.
• Celebrities and influencers: Endorsements from prominent individuals can boost demand and drive the price up.
• Technological developments: Upgrades to the Dogecoin blockchain or the implementation of new features can increase its utility and value.
• Supply and demand: Changes in the supply and demand dynamics, such as increased mining activity or higher adoption, can affect the price.
• Competition: Other cryptocurrencies, such as Shiba Inu and Floki Inu, may compete with Dogecoin for attention and popularity.

Conclusion

Dogecoin remains a popular cryptocurrency due to its low price, ease of accessibility, and meme-like status. While its price is subject to fluctuations, it continues to have a loyal community and various use cases.