The latest price of Dogecoin at 09:00 on October 16, 2024

(24-hour Dogecoin price trend)

Dogecoin Market Update

As of October 16, 2024, at 9:00 AM, Dogecoin (DOGE) is valued at $0.11675598798983, with a 24-hour trading volume of $1,341,146,636.3619. Dogecoin has experienced a price decline of -1.32903469% within the last day.

Key Metrics

• Circulating supply: 146,383,266,383.71
• Maximum supply: N/A
• Total supply: 146,383,266,383.71
• Market capitalization: $17,091,122,891.808

Performance Analysis

Over the past day, Dogecoin's price has fluctuated within a narrow range. The slight downward trend suggests that selling pressure may be outweighing buying pressure. However, the market capitalization remains stable, indicating that overall confidence in DOGE as a store of value persists.

Technical Outlook

Technical analysis suggests that DOGE is trading below its 20-day moving average. This indicates that short-term momentum is bearish. Resistance is anticipated at $0.1250, while support is at $0.1050. A breakout above $0.1250 could signal a potential reversal of the current downtrend. Conversely, a breakdown below $0.1050 could indicate further price declines.

Market Sentiment

Market sentiment towards DOGE remains divided, with some analysts anticipating a recovery while others predict further depreciation. The community support for DOGE is still strong, as evident by the large number of active wallets and social media engagement.

Conclusion

Dogecoin's price has been experiencing moderate volatility in the past day, with a slight downward trend. Technical analysis indicates that the market may be at a crossroads, with a potential reversal or further decline possible. Market sentiment remains mixed, with some expecting a recovery while others anticipate further depreciation. Investors should carefully monitor market developments and conduct thorough due diligence before making any investment decisions.