The latest price of Dogecoin at 06:00 on February 01, 2025

(24-hour Dogecoin price trend)

Dogecoin Price Analysis: DOGE Dips Despite Bullish Momentum in Crypto Market

February 1, 2025, 5:00 AM PST

Dogecoin (DOGE) witnessed a downturn in its price, dropping to $0.32690523117115, despite the overall bullish sentiment in the cryptocurrency market. The 24-hour trading volume recorded was $1775237662.4216.

In the past 24 hours, DOGE has lost 1.48350551% of its value, reversing the gains it had made earlier.

Key Statistics:

• Current Price: $0.32690523117115
• 24-hour Trading Volume: $1775237662.4216
• Price Change in Last 24 Hours: -1.48350551%
• Circulating Supply: 147856396383.71 DOGE
• Maximum Supply: Unlimited
• Total Supply: 147856396383.71 DOGE
• Market Capitalization: $48335029439.949

Market Analysis:

Despite positive news and developments in the broader cryptocurrency market, DOGE's price has come under pressure. Bitcoin, the leading cryptocurrency, has recently crossed the $30,000 mark, boosting market sentiment. However, DOGE has failed to capitalize on this momentum, raising concerns among investors.

Analysts attribute the decline to profit-taking and a lack of significant catalysts driving DOGE's price higher. The absence of major news or updates on the project could have contributed to the weakness in the cryptocurrency.

Outlook:

The current price movement suggests that DOGE is facing selling pressure. If the bears maintain control, the price could decline further. However, if the bulls can step up and defend the support level, DOGE may have the chance to recover its losses.

Investors should remain vigilant and monitor the situation closely. Technical analysis indicates that DOGE could test the $0.32 support level, while resistance remains at $0.34.