The latest price of Dogecoin at 03:00 on December 01, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Market Update (December 1, 2024)

Dogecoin (DOGE) is currently trading at $0.42412047788995, with a 24-hour trading volume of $6551937901.8425. Over the past 24 hours, DOGE has experienced a price decline of -0.69058855%.

Key Metrics:

• Circulating Supply: 147009436383.71
• Maximum Supply: Unlimited
• Total Supply: 147009436383.71
• Market Cap: $62349712413.39

Observations:

Dogecoin's price has been on a downward trend since the recent surge in early November. Despite a brief rally in late November, the asset has continued to lose value.

The current decline suggests that the market sentiment towards DOGE remains bearish. The lack of significant buying pressure and a strong resistance level at around $0.45 have contributed to the price drop.

The cryptocurrency market as a whole has been experiencing a downturn in recent weeks, which has also affected the performance of Dogecoin. Investors are becoming more risk-averse and pulling their funds out of speculative assets like cryptocurrencies.

Outlook:

The short-term outlook for Dogecoin remains uncertain. The price could potentially continue to decline if the market sentiment does not improve. However, a positive development such as a major partnership or technological improvement could reverse the current trend.

In the long term, Dogecoin's performance will depend on the overall adoption of cryptocurrencies and the growth of the meme coin community. Dogecoin has a strong brand recognition and a loyal following, which could support its value in the future. However, it remains to be seen whether it can regain its previous highs.