The latest price of Dogecoin at 21:00 on July 30, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Surge Falters

As of July 30, 2024, at 9:00 PM UTC, Dogecoin (DOGE) is trading at $0.12865545365366, showing a slight decline of -3.85743994% over the past 24 hours. The 24-hour trading volume for DOGE stands at $698,850,249.2598.

Market Statistics

• Circulating Supply: 145,327,516,383.71
• Maximum Supply: N/A
• Total Supply: 145,327,516,383.71
• Market Capitalization: $18,697,177,548.705

Recent Price Dynamics

Dogecoin has experienced a recent surge in price, rising by over 30% since mid-July. However, this upward momentum seems to have hit a roadblock, with DOGE falling back in recent days.

Factors Influencing DOGE Price

The recent price fluctuation of DOGE can be attributed to several factors, including:

• Elon Musk's Interest: Elon Musk, CEO of Tesla and SpaceX, has been a vocal supporter of Dogecoin, contributing to its popularity and price appreciation.
• Market Volatility: The cryptocurrency market is known for its volatility, and DOGE is not immune to these fluctuations.
• Speculation and Hype: DOGE has gained a reputation as a speculative asset, with many investors purchasing it based on hype rather than fundamental analysis.
• Supply and Demand: The limited supply of DOGE, combined with high demand, can lead to price increases.

Outlook

The long-term outlook for DOGE is uncertain. While it has shown the potential for substantial price gains, it is also susceptible to market fluctuations and speculative behavior. Investors should exercise caution and conduct thorough research before making any trading decisions.