The latest price of Dogecoin at 18:00 on December 26, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Poised for Recovery in 2024

As of December 26, 2024, 18:00 UTC, Dogecoin (DOGE) is trading at $0.31692343014712, with a 24-hour trading volume of $2,792,221,705.1714. Dogecoin has experienced a -4.4991187% change in the past 24 hours.

Key Statistics:

• Circulating Supply: 147,358,966,383.71 DOGE
• Max Supply: N/A
• Total Supply: 147,358,966,383.71 DOGE
• Market Capitalization: $46,701,509,089.258

Chart Analysis:

Dogecoin's price chart suggests that the cryptocurrency may soon regain its peak established at the end of 2024. A breakout past this level could potentially fuel a significant upward trend in 2025.

The formation of a bullish pennant pattern indicates a period of consolidation before a potential breakout. The upward sloping trendline serves as support and prevents DOGE from declining significantly.

Momentum indicators also provide positive signals. The Relative Strength Index (RSI) is regaining strength, suggesting that buying pressure is increasing. The Moving Average Convergence Divergence (MACD) has recently crossed above its signal line, indicating bullish momentum.

Outlook:

Based on the technical analysis, DOGE is expected to experience a recovery in the coming weeks. A breakout above the 2024 high could pave the way for further gains in 2025. Potential targets include the $0.50 and $1.00 levels.

However, investors should remain cautious as the cryptocurrency market remains highly volatile. A decline below the pennant's support line could invalidate the bullish scenario and lead to a further downtrend.