The latest price of Dogecoin at 17:00 on September 7, 2024

(24-hour Dogecoin price trend)

Dogecoin Price and Market Update

As of September 7, 2024, 5:00 PM UTC, Dogecoin (DOGE) is trading at $0.093877344933472. Its 24-hour trading volume stands at $802,598,204.30393.

Over the past 24 hours, the price of Dogecoin has experienced a moderate decline of -3.29488698%.

Key Metrics

• Circulating supply: 145,855,746,383.71
• Maximum supply: N/A
• Total supply: 145,855,746,383.71
• Market capitalization: $13,692,550,213.792

Market Analysis

The recent price dip suggests a correction in the Dogecoin market following a period of sustained gains. Despite the correction, Dogecoin remains well above its yearly low of $0.065 established in July 2024.

The overall cryptocurrency market sentiment has been mixed in recent weeks, with major cryptocurrencies such as Bitcoin experiencing both bullish and bearish periods. However, Dogecoin's correlation with Bitcoin remains strong, and its price tends to follow Bitcoin's general trend.

Technical Outlook

On the technical front, Dogecoin is facing resistance at $0.10, a key psychological barrier. If Dogecoin breaks above this level, it could potentially continue its upward momentum towards its all-time high of $0.16 reached in May 2023.

However, if Dogecoin fails to break above the resistance level and continues to fall, it could test the support level at $0.085, which held strong in recent weeks.

Disclaimer:

The information provided in this update is for informational purposes only and should not be construed as investment advice. It is essential to conduct thorough research and consult with financial professionals before making any investment decisions.