The latest price of Dogecoin at 16:00 on November 5, 2024

(24-hour Dogecoin price trend)

Dogecoin Surges Over 11% as Price Reaches $0.168

As of November 5th, 2024 at 4 PM UTC, the latest price of Dogecoin (DOGE) stands at $0.16803678800707. This signifies an impressive 11.27687302% increase in its value over the past 24 hours.

Market activity has been robust, with a 24-hour trading volume of $3,166,504,957.5643. This surge in trading volume reflects the increasing interest and demand for DOGE.

Supply and Market Overview

Currently, the circulating supply of Dogecoin is 146,661,776,383.71. However, the maximum supply and total supply of DOGE are not readily available from the provided information.

Based on the circulating supply and current price, the market capitalization of Dogecoin is estimated to be around $24,644,573,826.929. This indicates that Dogecoin has a significant presence in the cryptocurrency market.

Factors Contributing to the Surge

The recent price increase of Dogecoin can be attributed to several factors:

• Positive market sentiment: Overall positive sentiment in the cryptocurrency market has benefited Dogecoin along with other prominent digital assets.
• Increased adoption: Dogecoin has been gaining wider acceptance as a medium of payment and is now supported by a growing number of businesses.
• Elon Musk's endorsements: Elon Musk, the CEO of Tesla and SpaceX, has frequently expressed support for Dogecoin, which has contributed to its popularity.

Conclusion

Dogecoin's recent price surge demonstrates the growing enthusiasm and demand for the cryptocurrency. Its increasing adoption, positive market sentiment, and high trading volume suggest the potential for continued value appreciation in the future.