The latest price of Dogecoin at 04:00 on December 08, 2024

(24-hour Dogecoin price trend)

Dogecoin's (DOGE) Price Surge: A Comprehensive Overview

At 2:04 AM UTC on December 8th, 2024, Dogecoin (DOGE) was trading at $0.45900656154551, showcasing a significant surge of 4.12285395% over the previous 24 hours. The 24-hour trading volume has reached a remarkable $793,779,3289.7018.

Market Capitalization and Supply:

Dogecoin's impressive market capitalization stands at $67.52 billion, reflecting the significant financial value it currently commands. The circulating supply of Dogecoin is 147,105,256,383.71, with a total supply of 147,105,256,383.71. It is important to note that Dogecoin has no maximum supply, meaning it can potentially expand indefinitely.

Factors Influencing the Price Rise:

The recent rise in Dogecoin's price can be attributed to several factors:

• Strong community support: Dogecoin has a loyal and enthusiastic community that actively promotes and supports the cryptocurrency.
• Increased institutional interest: The growing recognition of cryptocurrencies in the financial sector has led to increased interest in Dogecoin from institutional investors.
• Speculative trading: Dogecoin's status as a popular memecoin makes it susceptible to speculative trading, which can further fuel price volatility.

Long-Term Prospects:

While Dogecoin has experienced significant growth in recent times, it remains to be seen how it will perform in the long run. Factors such as regulation, market competition, and technological advancements will likely shape its future price trajectory.

Conclusion:

Dogecoin has enjoyed a notable price increase in the past 24 hours, attracting attention and investment. However, it is crucial for investors to exercise caution and conduct thorough research before making any investment decisions. The cryptocurrency market remains highly volatile, and Dogecoin's future performance is uncertain.