The latest price of Dogecoin at 12:00 on October 2, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Update and Market Analysis

As of October 2, 2024, 12:00 PM UTC, the latest price of Dogecoin (DOGE) was $0.10844248533406, with a 24-hour trading volume of $1,305,335,643.5813. In the past 24 hours, DOGE has experienced a 7.78337277% decrease in its value.

Key Metrics:

• Circulating Supply: 146,193,886,383.71 DOGE
• Maximum Supply: N/A
• Total Supply: 146,193,886,383.71 DOGE
• Market Cap: $15,853,628,380.094

Market Analysis:

Dogecoin has seen a significant drop in value over the past day. The downtrend is attributed to several factors, including:

• Bearish Market Sentiment: The broader cryptocurrency market is currently experiencing a downturn, with many major coins losing value. This sentiment has negatively impacted DOGE.
• Profit-Taking: Following a recent surge in price, some investors have chosen to sell their DOGE holdings to lock in profits.
• Technical Resistance: DOGE has been facing resistance around the $0.12 level, and its failure to break past this level has contributed to the sell-off.

Future Outlook:

The future outlook for DOGE remains uncertain. While it is possible that the coin could recover from its current decline, it is also possible that it could continue to fall. Factors that will influence DOGE's performance include:

• Market Conditions: The overall health of the cryptocurrency market will play a significant role in determining DOGE's future direction.
• Community Support: Dogecoin has a strong and supportive community, which could help it weather the current storm.
• Technical Developments: The Dogecoin development team is continuously working on improving the coin's technology and adoption, which could potentially boost its value.

Investors should exercise caution before investing in any cryptocurrency, including DOGE. It is always important to conduct thorough research and understand the risks involved.