The latest price of Dogecoin at 18:00 on November 16, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Moving Sideways Amidst Muted Market Sentiment

As of November 16, 2024, 6:00 PM, the live price of Dogecoin (DOGE) stood at $0.37418232496713. Over the past 24 hours, the cryptocurrency's trading volume amounted to $10260461989.453, indicating a moderate level of market activity.

Recent Price Movements

In the last 24 hours, Dogecoin's price has experienced a slight decline of -0.26837586%. This modest downward movement suggests that the market for DOGE remains relatively subdued, with buyers and sellers cautiously approaching trades.

Circulating and Total Supply

The current circulating supply of Dogecoin is 146813076383.71, while its maximum supply remains unspecified. The total supply is also listed as 146813076383.71, as there are no plans to mint additional coins.

Market Capitalization

The market capitalization of Dogecoin, calculated by multiplying its circulating supply by its current price, stands at $54934858256.832. This places DOGE among the top cryptocurrencies by market capitalization, indicating significant investor interest despite its recent price weakness.

Relevant News and Announcements

• Dogecoin's core development team recently announced plans to release a major software update in early 2025. The update is expected to include several new features, including improved wallet functionality and enhanced security measures.
• Elon Musk, the CEO of Tesla and SpaceX, has repeatedly expressed his support for Dogecoin. Musk's tweets and comments have often had a positive impact on DOGE's price, as investors anticipate increased adoption and utility.
• The memecoin community remains highly active and engaged with Dogecoin. Social media platforms such as Reddit and Twitter continue to host numerous Dogecoin-related discussions and initiatives.

Outlook

Dogecoin's price performance in the coming days and weeks will likely depend on the overall sentiment in the cryptocurrency market. If the broader market remains subdued, DOGE could potentially move sideways or experience further declines. However, any positive news or announcements related to the coin could provide a catalyst for a price rally.