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

(24-hour Dogecoin price trend)

Dogecoin Surges, Fueled by Musk's Optimism

December 11, 2024, 11:00 AM EST

Dogecoin (DOGE) has experienced a notable surge in value, buoyed by positive comments from influential entrepreneur Elon Musk. The latest price of DOGE stands at $0.38763853790262, marking an increase of -3.13373724% over the past 24 hours.

The 24-hour trading volume of DOGE has reached a substantial $10772333962.358, indicating significant market activity. With a circulating supply of 147149856383.71 DOGE, the cryptocurrency has a maximum supply and a total supply of the same amount.

The latest market movement has been attributed to a combination of factors, including Musk's favorable remarks about DOGE. The Tesla and SpaceX CEO has repeatedly expressed his support for the digital currency, hinting at its potential to reach $1.05. This has instilled confidence among investors, leading to increased buying pressure.

Furthermore, the broader cryptocurrency market has been experiencing a positive trend in recent months. Bitcoin, the benchmark cryptocurrency, has witnessed a steady rise in value, providing a tailwind for altcoins like DOGE.

Despite the optimism surrounding DOGE, caution remains warranted. The cryptocurrency market is highly volatile, and sudden downturns can occur without notice. Investors should carefully consider their risk tolerance and only invest what they can afford to lose.

As of now, DOGE's market capitalization stands at $57040955181.16, reflecting its significant presence within the cryptocurrency ecosystem. The cryptocurrency is available for trading on various exchanges, including Binance, Coinbase, and Kraken.