(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Drop Sends Shivers Down Crypto Market

As of November 21, 2024, 03:00 UTC, the price of Dogecoin (DOGE) has plummeted to $0.37425178857858, marking a 24-hour trading volume of $9784957673.5902. This sharp decline represents a significant loss of -9.81319258% within the past day.

The decreasing value of Dogecoin has sparked concerns within the cryptocurrency market, particularly among investors and traders. The token's current downturn exacerbates a recent trend of volatility that has left many questioning the stability of the crypto asset.

Key metrics of Dogecoin's current market status include:

• Circulating Supply: 146872806383.71
• Maximum Supply: -
• Total Supply: 146872806383.71
• Market Capitalization: $54967410482.657

Despite its recent struggles, Dogecoin remains one of the most popular and widely recognized cryptocurrencies. Its initial surge in popularity was largely driven by social media and celebrity endorsements, resulting in a substantial following among retail investors.

However, the token's value has faced scrutiny from critics who question its fundamental value and long-term viability. The lack of a clear utility or unique features compared to other established cryptocurrencies has raised doubts about Dogecoin's ability to retain its market share in the competitive crypto landscape.

The recent price plunge of Dogecoin serves as a reminder of the inherent volatility associated with cryptocurrency investments. Market sentiment, regulatory changes, and technological advancements can significantly impact the value of digital assets, potentially leading to substantial gains or losses in a short period.