The latest price of Dogecoin at 04:00 on January 6, 2025

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis for January 6, 2025

As of January 6, 2025, 04:00 AM UTC, Dogecoin (DOGE) is trading at $0.38307607545252, with a 24-hour trading volume of $2,950,516,021.6672. The price of DOGE has witnessed a -0.40557173% decrease over the last 24 hours.

Key Metrics:

• Circulating Supply: 147,501,416,383.71
• Max Supply: N/A
• Total Supply: 147,501,416,383.71
• Market Cap: $56,504,263,711.958

Analysis:

Dogecoin has been on a downward trend in recent days, losing close to 20% of its value since early December 2024. The breakout of a long-standing support level at $0.45 suggests that the bearish trend may persist in the near term.

The technical analysis of DOGE indicates bearish momentum, as the Relative Strength Index (RSI) is below 50 and the Moving Averages Convergence Divergence (MACD) histogram is negative. Moreover, the price has formed a descending triangle pattern, which often foreshadows further declines.

Outlook:

If the current trend continues, DOGE may test the next support level around $0.35. However, a breakout above the resistance level at $0.43 could lead to a reversal of the downtrend.

Investors should exercise caution while trading DOGE as the market remains volatile. Technical analysis suggests the possibility of further price declines, but it is important to note that crypto markets are highly unpredictable and can change rapidly.

Disclaimer:

This analysis is based on available market data and should not be taken as financial advice.