The latest price of Dogecoin at 03:00 on December 27, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis and Market Update

As of December 27, 2024, at 03:00 UTC, Dogecoin (DOGE) was trading at $0.31402323229667. Over the past 24 hours, the token had experienced a decrease in price of -5.01242617%, indicating a current downtrend.

Market Statistics

• 24-hour trading volume: $2,543,399,159.7309
• Market capitalization: $46,275,759,291.585
• Circulating supply: 147,364,126,383.71 DOGE
• Maximum supply: N/A
• Total supply: 147,364,126,383.71 DOGE

Coin Metrics and Notable Data

• Return on Investment (ROI): 18,975.32% (since inception)
• Block time: 1 minute
• Algorithm: Scrypt
• Proof-of-Work (PoW): Yes

Market Outlook and Analysis

The current price decline in Dogecoin aligns with the broader market downtrend observed across the cryptocurrency sector. Concerns over regulatory uncertainties, inflation, and geopolitical tensions have contributed to the recent bearish sentiment.

Despite the short-term price volatility, Dogecoin remains popular within the cryptocurrency community. Its association with the "Doge" meme and a strong online following have helped to maintain its value proposition.

Conclusion

Dogecoin continues to face market fluctuations, with its price performance influenced by a combination of macroeconomic factors and community sentiment. While the near-term price outlook remains uncertain, the coin's fundamental strengths, such as its fast transaction times and loyal user base, suggest that it may remain a contender in the cryptocurrency space.