The latest price of Dogecoin at 16:00 on August 15, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: August 15, 2024

At the time of writing (08/15/2024 16:00 UTC), Dogecoin (DOGE) is trading at $0.10268352105658. This represents a decrease of -2.86354726% over the past 24 hours.

The 24-hour trading volume for DOGE is $579,297,534.25014. The current circulating supply of DOGE is 145,540,736,383.71 DOGE, with a maximum supply of 145,540,736,383.71 DOGE and a total supply of 145,540,736,383.71 DOGE.

Key Technical Observations:

• Support Levels: $0.10, $0.095, $0.09
• Resistance Levels: $0.11, $0.12, $0.13

Recent Market Performance:

Dogecoin has experienced significant price volatility in recent weeks. After reaching a local high of $0.12 on August 10, the price has retreated sharply and is now trading below the crucial $0.11 support level.

The selling pressure is attributed to several factors, including:

• Profit-taking after the recent rally
• Negative market sentiment surrounding cryptocurrencies
• Concerns over Dogecoin's limited utility

Outlook:

The technical indicators suggest that Dogecoin is currently facing a downtrend. The price is below key support levels, and the momentum indicators are tilted bearish.

If the price continues to fall, it could potentially reach the $0.095 or even $0.09 support levels. On the other hand, if the price manages to regain the $0.11 resistance level, it could lead to a rebound towards $0.12 or higher.

Traders should exercise caution and monitor key technical levels closely before making any trading decisions.