The latest price of Dogecoin at 04:00 on December 01, 2024

(24-hour Dogecoin price trend)

Dogecoin Price Analysis: Steady Growth Continues

As of December 1, 2024, 04:00 UTC, Dogecoin (DOGE) is trading at $0.42675095093657 with a 24-hour trading volume of $607,951,4793.0714. The price has experienced a slight decrease of -1.5267352% over the past 24 hours.

Market Dynamics

• Circulating supply: 147,010,246,383.71 DOGE
• Total supply: 147,010,246,383.71 DOGE
• Maximum supply: Not applicable
• Market capitalization: $62,736,762,441.666

Recent Price Trends

Dogecoin has been on a steady upward trend over the past few weeks, hitting a high of $0.44 on November 28, 2024. The current dip in the price is a minor retracement and is not expected to significantly impact the overall bullish momentum.

Factors Influencing the Price

Several factors have contributed to the recent positive price action:

• Elon Musk's endorsement: Elon Musk, a prominent supporter of Dogecoin, has been publicly promoting the cryptocurrency on social media.
• растущее использование в качестве средства платежа: Dogecoin has gained increased acceptance as a payment option by merchants and individuals.
• партнерства и рекламные акции: Coinbase, a major cryptocurrency exchange, recently announced support for Dogecoin, further boosting its visibility.

Future Prospects

Analysts are generally optimistic about the long-term prospects of Dogecoin. The cryptocurrency's strong community support, increased utility, and potential as a speculative investment are expected to continue driving its growth. However, the market is volatile, and price fluctuations should be anticipated.

Note: Cryptocurrency prices are subject to significant fluctuations. It is important to conduct thorough research and consult with financial advisors before making investment decisions.