The latest price of Dogecoin at 04:00 on January 8, 2025

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Dive by 9.58% in 24 Hours

As of January 8, 2025, 04:00 AM UTC, the latest price of Dogecoin (DOGE) stands at $0.35299011853782. This represents a loss of -9.58111519% over the past 24 hours.

Key Metrics:

• 24-hour trading volume: $4,753,519,665.0631
• Circulating supply: 147,528,616,383.71
• Maximum supply: None
• Total supply: 147,528,616,383.71
• Market capitalization: $52,076,143,785.005

Analysis:

Dogecoin's value has experienced a sharp decline over the past 24 hours, with its price falling from $0.3911 to $0.3529. This drop is in line with the broader market trend, as major cryptocurrencies such as Bitcoin and Ethereum have also faced losses.

The cryptocurrency market has been under pressure in recent weeks due to a combination of macro-economic factors and regulatory concerns. Central banks' interest rate hikes and ongoing inflation have raised uncertainty among investors, leading to a sell-off of riskier assets, including cryptocurrencies.

Despite these short-term fluctuations, Dogecoin remains one of the most popular cryptocurrencies in the market. Its low transaction fees and active community continue to attract users.

Conclusion:

Dogecoin's recent price decline reflects the broader market sentiment. While the cryptocurrency's value has faced headwinds in the short term, its long-term prospects remain highly speculative. Investors should conduct their own thorough research before making investment decisions.