The latest price of Dogecoin at 13:00 on December 26, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Recovery Potential and Long-Term Growth

At 13:00 on December 26th, 2024, the latest price of Dogecoin (DOGE) stood at $0.32539808095832, with a 24-hour trading volume of $2510617482.8828. DOGE's price has seen a decrease of -2.53333096% in the past 24 hours.

Market Statistics

• Circulating supply: 147356396383.71 DOGE
• Maximum supply: N/A
• Total supply: 147356396383.71 DOGE
• Market capitalization: $47949488600.191

Technical Analysis

A technical analysis of DOGE's price chart suggests that the cryptocurrency could potentially recover to its late 2024 peak and continue to grow significantly in 2025.

• Trend analysis: DOGE has been trading within a descending channel since April 2023. However, it recently broke out of this pattern, indicating a potential change in trend.
• Support and resistance: The immediate support level for DOGE is at $0.315, while the resistance level is at $0.34. Breaking above the resistance level could trigger a significant bullish move.
• Moving averages: DOGE's 50-day moving average (MA) is currently below its 200-day MA, indicating a long-term downtrend. However, the 50-day MA is starting to turn upwards, suggesting a potential trend reversal.
• Oscillators: The Relative Strength Index (RSI) for DOGE is in the oversold zone, indicating that it may be due for a rebound. The Moving Average Convergence Divergence (MACD) histogram is also turning positive, further supporting the bullish case.

Long-Term Outlook

Based on the technical analysis, it is possible that DOGE could reach its previous highs by the end of 2024. Furthermore, its strong community support and increasing use cases could contribute to further growth in the years to come. However, it is important to note that the cryptocurrency market is highly volatile, and price fluctuations can be unpredictable.