The latest price of Dogecoin at 16:00 on October 20, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis

As of October 20, 2024, 4:00 PM PST, the price of Dogecoin (DOGE) stands at $0.14325221857976. The 24-hour trading volume is $1,552,801,634.681.

Over the past 24 hours, the price of Dogecoin has decreased by -0.88396062%. This follows a brief period of growth in the days leading up to October 20th.

Key Metrics

• Circulating Supply: 146,442,816,383.71 DOGE
• Maximum Supply: Unlimited (no maximum)
• Total Supply: 146,442,816,383.71 DOGE
• Market Capitalization: $20,978,258,342.035

Market Sentiment

Despite the recent price dip, the overall market sentiment for Dogecoin remains predominantly bullish. Many analysts believe that DOGE has the potential for significant growth in the long term due to its strong community and increasing acceptance as a payment method.

Factors Influencing Dogecoin Price

Several factors influence the price of Dogecoin, including:

• Market Demand: Interest and demand for DOGE significantly affect its price.
• Speculation: Dogecoin is highly speculative, and price fluctuations can be exaggerated by market speculation.
• Whale Activity: Large holders (whales) can heavily impact the price with their buying and selling activity.
• Social Media Sentiment: Elon Musk's tweets and other social media endorsements can influence DOGE's price.
• News and Events: Positive or negative news surrounding Dogecoin can affect its price.

Conclusion

Dogecoin's price is subject to volatility and is influenced by various factors. While the recent price dip is not concerning, investors should carefully consider the market conditions and their risk tolerance before making any investments in DOGE.