The latest price of Dogecoin at 18:00 on January 7, 2025

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Can It Reach the $1 Mark in 2025?

As of January 7, 2025, 6:00 PM, the live Dogecoin (DOGE) price is $0.39446666948429, with a 24-hour trading volume of $2,923,233,594.6055. DOGE's price has increased by 2.65096117% in the past 24 hours.

Circulating Supply and Market Capitalization

• Bitcoin (BTC) Circulating Supply: 147,522,726,383.71
• Dogecoin (DOGE) Circulating Supply: 147,522,726,383.71
• DOGE Maximum Supply: Unlimited
• DOGE Total Supply: 147,522,726,383.71
• DOGE Market Capitalization: $58,192,798,549.822

Recent Market Trends

• Dogecoin has seen a steady upward trend in recent months, with its price increasing by over 50% since the beginning of December 2024.
• The rise in DOGE's price has been attributed to several factors, including Elon Musk's ongoing support for the coin and the growing adoption of DOGE as a payment method.
• Some analysts believe that DOGE's price could potentially reach $1 in 2025 if the current momentum continues.

Technical Analysis

• DOGE's 50-day moving average (MA) is currently at $0.38827344, which is below its current price. This indicates that DOGE may have some support at this level.
• The 200-day MA is currently at $0.36845789, which is also below the current price. This indicates that DOGE has a strong underlying uptrend.
• The relative strength index (RSI) is currently at 61.33, which is in the overbought zone. This indicates that DOGE may be due for a pullback soon.

Key Market Updates

• PEPE Coin's Strong Rise: The emergence of PEPE Coin (PEPE) as a strong competitor to DOGE is a new development in the meme coin space. PEPE's price has surged by over 150% in the past week, challenging the dominance of DOGE and Shiba Inu (SHIB).

Conclusion

While Dogecoin's price has been on an upward trajectory, it is essential to note that the cryptocurrency market is highly volatile. Factors such as regulatory changes, market sentiment, and technological advancements can significantly impact the price of DOGE.

Investors should exercise caution and conduct thorough research before making any investment decisions. The potential for both gains and losses should always be considered.