The latest price of Dogecoin at 09:00 on January 8, 2025

(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis: Decline Continues amidst Bearish Sentiment

At the time of writing on January 8, 2025, at 09:00 AM, Dogecoin (DOGE) is trading at $0.35298530461559. This represents a 9.41402078% decline in price over the past 24 hours. The 24-hour trading volume for DOGE is $5363200081.5008.

Market Statistics:

• Circulating Supply: 147531086383.71
• Maximum Supply: N/A
• Total Supply: 147531086383.71
• Market Capitalization: $52076305467.422

Technical Indicators:

Technical indicators suggest that DOGE is currently in a bearish trend. The Relative Strength Index (RSI) is below 50, indicating oversold conditions. The Moving Average Convergence Divergence (MACD) indicator is also indicating a bearish trend, with the MACD line below the signal line.

Market Sentiment:

Market sentiment towards DOGE is currently negative, with most analysts predicting further declines in price. The recent decline in price is attributed to several factors, including:

• Overall Bearish Market: The cryptocurrency market as a whole has been in a downtrend for several months, with most major coins experiencing significant losses.
• Profit-taking: Some investors who purchased DOGE at lower prices may be cashing out their profits.
• Fear and Uncertainty (FUD): Negative reports and speculation about DOGE's long-term prospects have created uncertainty among investors.

Conclusion:

Dogecoin's price has been on a downward trajectory in recent days, amidst bearish market sentiment. Technical indicators and market sentiment suggest that the trend is likely to continue in the short term. Investors are advised to proceed with caution when considering DOGE investments.