(24-hour Dogecoin price trend)

Dogecoin (DOGE) Slumps 3.94% Amid Bearish Market Sentiment

As of November 7, 2024, 10:00 PM UTC, Dogecoin (DOGE) plunged by 3.94% over the past 24 hours. Its current price stands at $0.1882, amidst a bearish sentiment prevailing in the cryptocurrency market.

The 24-hour trading volume for DOGE reached $5,328,358,606.7156, indicating decreased trading activity compared to recent days.

Circulation, Supply, and Market Cap

The circulating supply of Bitcoin (BTC) remains at 146,692,686,383.71. In contrast, DOGE's supply data is unavailable in the provided context.

The total market capitalization for DOGE is $2,761,249,9773.239. The market capitalization for a cryptocurrency is calculated by multiplying its circulating supply by its current price. It serves as an indicator of the value of the coins in circulation and their prominence within the cryptocurrency market.

Market Outlook

The bearish market sentiment is likely weighing on the price of DOGE, as it has been observed across major cryptocurrencies. Bitcoin, the leading cryptocurrency, has also declined in recent days. Investors are exhibiting a cautious approach due to macroeconomic uncertainties and geopolitical tensions.

It remains to be seen how the market for DOGE will evolve in the coming days and weeks. Investors should exercise due diligence and consider their risk tolerance before making any investment decisions.