The latest price of Dogecoin at 13:00 on January 8, 2025

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Bearish Trend Continues

As of January 8, 2025, 1:00 PM UTC, the price of Dogecoin (DOGE) sits at $0.35261315319085. The 24-hour trading volume for DOGE is $5481341956.695, indicating significant trading activity.

Over the past 24 hours, the price of DOGE has taken a sharp downturn, experiencing a decrease of -9.64258851%. This sharp drop suggests a bearish trend in the short term.

Key Metrics:

• Circulating Supply: 147533606383.71 DOGE
• Maximum Supply: N/A
• Total Supply: 147533606383.71 DOGE
• Market Capitalization: $52022290148.577

Technical Analysis:

The technical analysis of DOGE's price chart indicates a bearish trend. The price has broken below key support levels, suggesting further downward movement in the coming days. Indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator are in oversold territory, indicating that DOGE may be due for a correction.

Market Sentiment:

The market sentiment towards DOGE has become increasingly negative in recent days. The sharp price drop has led investors and traders to question the long-term viability of the cryptocurrency. There is concern that DOGE's high volatility and lack of underlying utility may limit its potential for growth.

Conclusion:

The recent price movements and technical analysis suggest that Dogecoin is currently in a bearish trend. The sharp drop in price and negative market sentiment indicate that the cryptocurrency may continue to decline in value in the short term. Investors and traders should exercise caution when considering DOGE investments and monitor price movements closely.