The latest price of Dogecoin at 05:00 on December 04, 2024

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis

As of December 4, 2024, 05:00 UTC, the latest price of Dogecoin (DOGE) is $0.41432247790581. The 24-hour trading volume of DOGE stands at $10,278,732,667.043. Over the past 24 hours, the price of Dogecoin has experienced a decrease of -3.59470145%.

Key Statistics

• Circulating Supply: 147,043,846,383.71 DOGE
• Maximum Supply: Not applicable
• Total Supply: 147,043,846,383.71 DOGE
• Market Capitalization: $60,923,570,794.498

Market Performance

Dogecoin's price has shown a volatile trend in recent times. The current price of $0.41432247790581 represents a significant drop compared to its all-time high of $0.7376 recorded in May 2021. However, the price has been showing signs of recovery after bottoming out at $0.37 last month.

Factors Influencing Price

The price of Dogecoin is influenced by a number of factors, including:

• Market Sentiment: The overall sentiment towards cryptocurrencies has a significant impact on the price of DOGE. Positive news and developments can boost the price, while negative events can lead to declines.
• Dogecoin's Use Case: DOGE's limited use cases compared to other cryptocurrencies may affect its price growth potential. However, its popularity as a social currency and its use for online tipping can contribute to price stability.
• Elon Musk's Endorsement: Tesla and SpaceX CEO Elon Musk has been a vocal supporter of Dogecoin. His tweets and comments about DOGE have historically influenced its price.

Conclusion

Dogecoin's price remains influenced by market sentiment and its limited use cases. While it has shown signs of recovery in recent weeks, the price trajectory of DOGE remains uncertain. Investors should carefully consider these factors and conduct their own research before making any investment decisions.