(24-hour Dogecoin price trend)

Dogecoin (DOGE) Price Analysis

As of November 8, 2024, 06:00 UTC, the latest price of Dogecoin (DOGE) is $0.19477257812203. The 24-hour trading volume for DOGE is $4512885406.8709. Over the past 24 hours, the price of Dogecoin has decreased by -1.90321481%.

Key Statistics:

• Circulating Supply: 146697016383.71
• Maximum Supply: Not applicable
• Total Supply: 146697016383.71
• Market Capitalization: $28572556083.863

Technical Analysis:

Dogecoin's price has been on a downtrend since reaching a peak of $0.211 on November 4, 2024. The current price is below the key support level of $0.200, indicating potential further weakness.

The Relative Strength Index (RSI) for DOGE is currently at 45.75, indicating that the asset is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) indicator shows a bearish cross, suggesting that the downtrend may continue.

Outlook:

The short-term outlook for Dogecoin is bearish. The asset has broken below a key support level and is facing resistance at the $0.200 mark. Technical indicators suggest that the downtrend may continue.

However, Dogecoin's long-term prospects remain uncertain. The asset has a loyal community and has seen significant growth in recent months. If market sentiment improves, DOGE could potentially recover from its current downtrend.

Disclaimer:

This analysis is for informational purposes only and should not be construed as financial advice. Cryptocurrency prices are highly volatile and can change rapidly. Investors should always do their own research and consult with financial professionals before making any investment decisions.