The latest price of Dogecoin at 20:00 on August 5, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Continues Downward Trend, Losing Over 20% in 24 Hours

August 5, 2024 (8:00 PM UTC)

As the cryptocurrency market experiences a prolonged downturn, Dogecoin (DOGE) has not been spared from the slump. As of August 5, 2024, at 8:00 PM UTC, DOGE's price stood at $0.084674976625877. This represents a significant drop of -21.2651296% over the past 24 hours, further extending its bearish streak.

Key Metrics

• Current Price: $0.084674976625877
• 24-Hour Trading Volume: $2455173866.7394
• Circulating Supply: 145,407,816,383.71
• Max Supply: Unlimited
• Total Supply: 145,407,816,383.71
• Market Capitalization: $12,312,403,453.51

Bearish Momentum

The latest price drop is part of a broader downtrend that has gripped the cryptocurrency market for several months now. Economic uncertainties, rising interest rates, and geopolitical tensions have all contributed to a sell-off in digital assets. This trend has particularly impacted meme coins like DOGE, which have experienced heightened volatility due to their speculative nature.

Future Outlook

The future trajectory of DOGE remains uncertain. While the broader macroeconomic environment continues to cast a shadow over the cryptocurrency market, some analysts believe that DOGE may have potential for a recovery in the long term. The coin's large community and supportive social media presence suggest that it could regain some of its former glory once market conditions improve.

However, investors should proceed with caution and conduct thorough research before investing in any cryptocurrency, including DOGE. The market can be unpredictable, and losses can occur at any time. It is crucial to diversify one's portfolio and invest only what one can afford to lose.