The latest price of Dogecoin at 02:00 on December 03, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis

As of December 3, 2024, at 02:00 AM, Dogecoin (DOGE) price stands at $0.41315316960512, with a 24-hour trading volume of $13920439902.006. Over the past 24 hours, DOGE has experienced a decline of -5.13129261%.

Key Statistics:

• Circulating Supply: 147035946383.71
• Maximum Supply: N/A
• Total Supply: 147035946383.71
• Market Cap: $60748367294.316

Market Overview:

Bitcoin (BTC), the leading cryptocurrency by market capitalization, is currently experiencing a period of consolidation. BTC's price has been hovering around $27,000 for the past few weeks, with limited volatility. Ethereum (ETH), the second largest cryptocurrency, has also been stable, fluctuating between $1,800 and $1,900.

Dogecoin's Performance:

Dogecoin has been performing below expectations in recent months. Following a surge in its price earlier this year, DOGE has gradually lost value. The recent decline is part of a broader market correction, with many cryptocurrencies experiencing setbacks.

Factors Affecting DOGE's Price:

Several factors contribute to DOGE's price movements:

• Market sentiment: DOGE is heavily influenced by market sentiment and the overall performance of the cryptocurrency market.
• Developer activity: The development team behind DOGE is crucial to its long-term success. Positive news and updates can support the price.
• Adoption: Wider adoption of DOGE by merchants and businesses can drive demand and increase its value.
• Social media buzz: Dogecoin has a significant presence on social media, and positive or negative attention can impact its price.

Conclusion:

The Dogecoin market is currently experiencing a period of uncertainty, with the price showing downtrend. Investors should exercise caution and carefully consider their investment strategies. While DOGE remains a popular cryptocurrency, its long-term prospects depend on its ability to overcome challenges and adapt to evolving market conditions.