The latest price of Dogecoin at 09:00 on August 12, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: August 12, 2024

As of August 12, 2024, 9:00 AM UTC, Dogecoin (DOGE) is trading at $0.10116469139529. The 24-hour trading volume stands at $695,282,597.04997. Dogecoin has experienced a decline of 4.73420378% in the past 24 hours.

Key Metrics:

• Current Price: $0.10116469139529
• 24-Hour Trading Volume: $695,282,597.04997
• Price Change (24 Hours): -4.73420378%
• Circulating Supply: 145,496,066,383.71 DOGE
• Maximum Supply: N/A
• Total Supply: 145,496,066,383.71 DOGE
• Market Cap: $14,719,064,654.936

Market Performance:

Dogecoin's price has been on a downward trend in recent hours. The sharp decline likely stems from profit-taking behavior following a significant surge in the coin's value earlier this week.

However, despite the short-term volatility, DOGE remains well above its recent lows. Long-term holders are likely viewing the current price dip as an opportunity to accumulate more coins at a discounted price.

Technical Analysis:

From a technical perspective, the daily chart for Dogecoin shows that the coin is trading below its 200-day moving average (MA), which currently sits at $0.11. The Relative Strength Index (RSI) is hovering around 30, which indicates that DOGE is approaching oversold territory.

If the price of Dogecoin continues to fall, it may test its immediate support level at $0.096. Conversely, if buyers step in and push the price higher, DOGE could rally towards resistance levels at $0.11 and $0.12.

Overall, the market sentiment for Dogecoin remains positive in the long term. However, traders should proceed with caution during periods of high volatility.