The latest price of Dogecoin at 01:00 on January 7, 2025

(24-hour Dogecoin price trend)

Dogecoin on the Rise: Price Analysis and Key Metrics

As of January 7, 2025, at 1:00 AM EST, Dogecoin (DOGE) traded at $0.38780842123357. Its 24-hour trading volume reached $292,571,302,382.97, marking an impressive rise of 1.42622037%.

Key Metrics:

• Circulating Supply: 147,513,486,383.71 DOGE
• Maximum Supply: N/A
• Total Supply: 147,513,486,383.71 DOGE
• Market Cap: $57,206,972,265.124

Market Analysis:

Dogecoin's price has exhibited positive momentum in the past 24 hours, with a significant surge of over 1.4%. This upward trend indicates growing demand for the cryptocurrency among investors and traders.

The high trading volume suggests strong liquidity and market depth, providing ample opportunities for buyers and sellers to execute trades.

Factors Influencing Price:

The recent price increase could be attributed to several factors, including:

• Positive News and Developments: Recent announcements or updates regarding Dogecoin's ecosystem or development may have sparked renewed interest among investors.
• Community Support: Dogecoin's strong and active community plays a crucial role in promoting and supporting the cryptocurrency. Positive sentiment and social media engagement can contribute to price appreciation.
• Market Sentiment: The broader cryptocurrency market has been showing signs of recovery in recent weeks, which may have positively influenced Dogecoin's price.

Outlook:

While Dogecoin's price has experienced positive momentum, it's important to note that the cryptocurrency market is highly volatile. Investors should carefully evaluate the potential risks and rewards before making any trading decisions.

The circulating supply of Dogecoin is significant, which means that a large number of tokens are available in the market. This factor may limit the potential for substantial price increases in the short term.

However, Dogecoin's strong community and ongoing development efforts may continue to drive its long-term value.