The latest price of Dogecoin at 17:00 on December 01, 2024

(24-hour Dogecoin price trend)

Dogecoin Price Analysis

As of December 01, 2024, 5:00 PM UTC, the live Dogecoin (DOGE) price is $0.4293995143358, with a 24-hour trading volume of $5,853,315,208.0216. Dogecoin is down -0.90702832% in the past 24 hours.

Key Statistics:

• Circulating supply: 147,017,356,383.71 DOGE
• Maximum supply: N/A
• Total supply: 147,017,356,383.71 DOGE
• Market cap: $63,129,181,430.096

Market Insights:

• Dogecoin's price has fluctuated within a narrow range over the past few days, with support at $0.4250 and resistance at $0.4400.
• The recent downward movement may be attributed to a sell-off following the anticipation surrounding the release of the Ordinals protocol on the Bitcoin blockchain.
• However, the overall sentiment for Dogecoin remains bullish, with many analysts predicting a recovery towards $0.50 in the short term.

Technical Analysis:

• The Relative Strength Index (RSI) is at 49, indicating a neutral market condition.
• The Bollinger Bands are narrow, suggesting low volatility and a potential breakout.
• The Moving Average Convergence Divergence (MACD) is below the zero line, indicating a bearish trend.

Conclusion:

Despite the recent dip, Dogecoin's long-term outlook remains positive. The release of the Ordinals protocol could have a positive impact on the entire crypto market, including Dogecoin. Traders should monitor the price action closely and consider buying opportunities near support levels.