(24-hour Dogecoin price trend)
Dogecoin (DOGE) Steadies Around $0.11 as Market Cap Nears $16 Billion
At 21:00 ET on October 7, 2024, Dogecoin (DOGE) traded at $0.1110264713797, showcasing a 1.34719038% increase in price over the last 24 hours. This surge in value drove DOGE's trading volume to reach $701,149,228.50305 over the same period.
Dogecoin's circulating supply currently stands at 146,267,266,383.71, representing the total number of DOGE units in active circulation. The cryptocurrency's market capitalization, a measure of its total value, has risen to $16,239,538,464.937, placing DOGE among the top cryptocurrencies in the market.
While DOGE has no official maximum supply, its circulating supply is subject to inflationary pressures as new blocks are mined. This inflation is balanced by DOGE's burning mechanism, which removes a certain number of DOGE units from circulation over time, helping to stabilize its value.
As the cryptocurrency market continues to evolve, Dogecoin's price and trading volume will undoubtedly fluctuate. However, its strong community support and potential for future growth remain key factors in its continued popularity and appeal to investors.
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