The latest price of Dogecoin at 15:00 on December 12, 2024

(24-hour Dogecoin price trend)

Dogecoin Faces Uptrend as SHIB Outperforms; Target Revises to $1

December 12, 2024 at 15:00 PM

Dogecoin (DOGE) is currently priced at $0.41799736682727, with a 24-hour trading volume of $6498908351.1723. DOGE has gained 6.37096112% in the last 24 hours.

With a circulating supply of 147165846383.71, a maximum supply of undisclosed, and a total supply of 147165846383.71, Dogecoin's market capitalization stands at $61514936275.295.

Key News Nuggets:

• Shiba Inu Surpasses Dogecoin in Rally: SHIB has been outperforming DOGE recently, leaving market analysts to wonder if DOGE will regain its momentum.
• "Overbought" Conditions Cool Down: DOGE's recent rally had pushed it into "overbought" territory, but this has since subsided, potentially paving the way for further gains.
• **Eyes on $1 Price Point:** Analysts remain bullish on DOGE, with many predicting it could reach the $1 mark in the coming months.
• Potential 20% Drop Ahead: Some analysts warn that a 20% correction may occur if specific technical indicators are not met.

Technical Analysis

Dogecoin's technical indicators suggest that it is currently in a strong uptrend. The Relative Strength Index (RSI) is at 62, indicating that it is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) is also bullish, with the MACD line above the signal line.

Conclusion

Dogecoin is poised for further growth as it emerges from its "overbought" conditions. If technical indicators remain bullish, DOGE could rally towards the $1 price target in the coming months. However, investors should be aware that a technical correction could occur before DOGE reaches its ultimate price goal.