The latest price of Dogecoin at 18:00 on August 2, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Rises After Recent Slump

As of August 2, 2024, at 6 PM, Dogecoin (DOGE) witnessed a notable increase in its price. The digital asset climbed by -3.00409559% in the past 24 hours, bringing its current value to $0.11712054724269.

According to available data, the 24-hour trading volume for DOGE has reached $830,438,212.90089, indicating active trading activity. The circulating supply of DOGE stands at 145,366,206,383.71, while the total supply and maximum supply remain unknown.

The market capitalization of Dogecoin has experienced a significant boost, reaching $17,025,369,642.254. This metric represents the total value of all DOGE coins in circulation.

Factors Influencing DOGE Price

The recent uptick in DOGE's price may be attributed to several factors. Firstly, the overall cryptocurrency market has shown signs of recovery, with Bitcoin (BTC) and Ethereum (ETH) experiencing modest gains.

Secondly, DOGE has received renewed interest from investors, particularly after Tesla CEO Elon Musk expressed his support for the coin. Musk's tweets and public statements have significantly influenced the DOGE community, driving demand and speculation.

Future Outlook

The future of DOGE's price remains uncertain. While the recent rise is encouraging, the cryptocurrency market is known for its volatility. Market dynamics, regulatory changes, and investor sentiment can all impact DOGE's value.

However, the strong community support, the endorsements from prominent figures like Musk, and the inherent scarcity of DOGE (with no maximum supply limit) suggest that it has the potential for sustained growth and adoption in the long run.