The latest price of Dogecoin at 10:00 on August 3, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis

At 10:00 AM UTC on August 3, 2024, Dogecoin (DOGE) traded at $0.1111355315551, marking a 5.58079072% decline over the past 24 hours.

Key Metrics

• Price: $0.1111355315551
• 24-hour Trading Volume: $888,171,874.80802
• Percentage Change (Past 24 hours): -5.58079072%
• Circulating Supply: 145,375,166,383.71 DOGE
• Maximum Supply: Unlimited
• Total Supply: 145,375,166,383.71 DOGE
• Market Capitalization: $16,156,346,390.964

Market Performance

In the past 24 hours, Dogecoin's price has experienced a moderate decline. The cryptocurrency has struggled to maintain its value above the $0.12 level and has been trading in a tight range for the past week.

The decline in DOGE's price may be attributed to the broader market sentiment, which has turned bearish amid concerns about macroeconomic headwinds and increasing regulatory scrutiny of the cryptocurrency industry.

Circulating Supply and Supply Dynamics

Dogecoin's circulating supply remains unchanged at 145,375,166,383.71 DOGE. The cryptocurrency has an unlimited maximum supply, which means that new DOGE can be created through mining. This feature has contributed to the cryptocurrency's highly inflationary nature.

Outlook

The short-term outlook for Dogecoin is uncertain. The cryptocurrency faces downward pressure from the negative market sentiment and its unlimited maximum supply. However, DOGE's strong community support and its widespread acceptance as a means of payment may provide some resilience to the downside.

Investors should exercise caution when considering Dogecoin investments. The cryptocurrency is highly volatile and its price can fluctuate significantly in both directions.