(24-hour Dogecoin price trend)

Dogecoin Price Analysis

As of November 16, 2024, at 00:00 UTC, Dogecoin (DOGE) is trading at $0.35581037064627. The 24-hour trading volume stands at $12,826,910,336.851.

Price Performance

DOGE has experienced a decline of -7.69708892% in the past 24 hours. This correction follows a period of prolonged growth for the cryptocurrency.

Key Metrics

• Circulating Supply: 146,802,686,383.71
• Maximum Supply: N/A
• Total Supply: 146,802,686,383.71
• Market Cap: $52,233,918,254.055

Factors Influencing Price

Several factors may have contributed to the recent price movement of DOGE:

• Market Sentiment: The broader cryptocurrency market has faced volatility in recent weeks, with Bitcoin (BTC) and other major coins also declining in value.
• News and Events: The lack of significant news or events related to DOGE may have weighed on investor sentiment.
• Technical Analysis: From a technical perspective, DOGE appears to have reached a resistance level at around $0.37 and is currently undergoing a correction.

Market Sentiment

Market sentiment for DOGE remains mixed. Some investors remain bullish, believing that the cryptocurrency has long-term growth potential. Others are more cautious, citing the asset's volatility and lack of fundamental value.

Conclusion

The recent price decline of Dogecoin (DOGE) is a reminder of the volatility inherent in the cryptocurrency market. While DOGE has experienced significant growth in the past, investors should be aware of the potential for price fluctuations and conduct thorough research before making any investment decisions.