(24-hour Dogecoin price trend)

Dogecoin (DOGE): A Comprehensive Market Analysis

As of February 3, 2025, 01:00 UTC, Dogecoin (DOGE) is trading at $0.27857585361674. The cryptocurrency has experienced a 13.62787474% decline in the past 24 hours. The 24-hour trading volume for DOGE stands at $3425429541.2866.

Key Metrics:

• Circulating supply: 147880986383.71
• Maximum supply: N/A
• Total supply: 147880986383.71
• Market cap: $41196072015.527

Market Performance:

The recent downturn in DOGE's price is a continuation of a broader market correction. In recent weeks, several major cryptocurrencies, including Bitcoin (BTC), have faced significant sell-offs. The overall cryptocurrency market capitalization has declined by over $100 billion in the past few days.

Analysts attribute the recent market decline to a combination of factors, including rising inflation, geopolitical tensions, and regulatory uncertainties. Additionally, some investors may be taking profits after the recent surge in cryptocurrency prices.

Outlook:

The trajectory of DOGE's price remains uncertain. The cryptocurrency market is highly volatile, and short-term fluctuations are common. However, several factors suggest that DOGE has long-term potential.

DOGE has a loyal and passionate community of supporters. The cryptocurrency has also been endorsed by several high-profile celebrities, including Elon Musk. Additionally, DOGE has a relatively low price, making it accessible to a wider audience.

Despite the recent setbacks, DOGE remains one of the most popular cryptocurrencies in the world. The cryptocurrency's future success will largely depend on the overall health of the cryptocurrency market and its ability to adapt to evolving market dynamics.