In the past 24 hours, Dogecoin (DOGE) has exhibited notable activity, reflecting both its volatility and its significant presence in the cryptocurrency market. Priced at $0.1293, DOGE has experienced a daily increase of 4.20%, indicating a positive trend for this period. This surge in price is a noteworthy movement for traders and investors, signaling potential opportunities or shifts in market sentiment.
Dogecoin’s market capitalization stands at $18,787,869,117, making it the 8th largest cryptocurrency by market cap. This position underscores Dogecoin’s substantial influence and widespread acceptance in the crypto space. The market cap has grown by 4.11% in the last 24 hours, aligning with the upward price movement and demonstrating a strengthened valuation.
The trading volume for Dogecoin over the past day has reached $853,497,856, ranking it 13th in terms of volume. This represents a 6.57% increase, suggesting heightened trading activity and interest from the market participants.
The volume-to-market cap ratio is 4.54%, indicating a moderate level of trading relative to its overall market size. This metric provides insights into the liquidity and market activity of Dogecoin, with a higher ratio often reflecting a more actively traded asset.
Dogecoin’s circulating supply and total supply are both at 145,271,116,384 DOGE, showing no difference between the two. This equality between circulating and total supply is characteristic of Dogecoin’s inflationary nature, as there is no maximum supply cap, and new coins continue to be mined.
The infinite max supply sets Dogecoin apart from other cryptocurrencies like Bitcoin, which have a capped supply, influencing their scarcity and long-term value prospects.
The fully diluted market cap of Dogecoin is reported at $18,797,807,297, slightly higher than the current market cap. This metric assumes the total supply in circulation, providing a comprehensive view of the cryptocurrency’s value if all possible coins were mined and in circulation.
The minimal difference between the current and fully diluted market cap indicates that most of the Dogecoin supply is already circulating, aligning with its current supply metrics.
The 4.20% price increase within a day is a significant movement for Dogecoin, especially given the broader market dynamics. This rise can be attributed to various factors, including market sentiment, news, or broader economic conditions influencing investor behavior.
The increase in market cap and trading volume further supports the observation that Dogecoin has gained traction in the past day, drawing more participants into its market.
Dogecoin’s position in the market, with its large market cap and active trading volume, highlights its role as a major player in the cryptocurrency arena.
Its infinite supply model differentiates it from other cryptocurrencies and influences its market dynamics. As new coins continue to be mined, the value of Dogecoin is subject to supply and demand forces in the market, with its price reflecting investor sentiment and market trends.
The recent performance of Dogecoin, with its price increase and active trading, showcases the ongoing interest and engagement from the crypto community.
This activity underscores the importance of monitoring market trends and metrics to make informed decisions. Dogecoin’s unique characteristics and market position make it a subject of continuous observation for traders, investors, and enthusiasts within the cryptocurrency landscape.
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