The latest price of Dogecoin at 15:00 on January 8, 2025

(24-hour Dogecoin price trend)

Dogecoin Price Analysis: DOGE Drops 12.4% in 24 Hours

As of January 8, 2025, at 3:00 PM UTC, the live Dogecoin (DOGE) price stands at $0.34211225272681. Within the past 24 hours, DOGE has experienced a decline of -12.41801755%, with a substantial trading volume of $561,594,2153.1147.

Key Metrics:

• Current DOGE Price: $0.34211225272681
• 24-Hour Trading Volume: $561,594,2153.1147
• Price Change (24 Hours): -12.41801755%
• Circulating Supply: 147,534,506,383.71
• Maximum Supply: N/A
• Total Supply: 147,534,506,383.71
• Market Capitalization: $5,047,336,2333.867

Market Dynamics:

Over the past 24 hours, the cryptocurrency market has witnessed a widespread downturn, with many major coins experiencing declines. Dogecoin, along with other altcoins, has been particularly hard-hit by the negative market sentiment. The reasons behind this market dip are not entirely clear, but some analysts attribute it to profit-taking and uncertainty surrounding the regulatory landscape.

Technical Analysis:

From a technical analysis perspective, DOGE is currently trading well below its key support levels. The 50-day moving average (MA) and the 200-day MA are acting as strong resistance levels at the moment, preventing any significant upward movement in price. Stochastic indicators suggest that DOGE is in an oversold territory, indicating potential for a short-term bounce. However, until DOGE breaks above these resistance levels, any bullish momentum is likely to remain limited.

Outlook:

The short-term outlook for Dogecoin remains uncertain. The current market conditions are not favorable for a sustained recovery, and DOGE could continue to face selling pressure in the coming days. The long-term outlook for DOGE is more optimistic, as the coin has a strong community and a number of potential use cases. However, investors should be cautious and monitor the market closely before making any investment decisions.