Current Dogecoin Price
Dogecoin price is updated in real-time. Dogecoin is currently trading at $0.315632 (DOGE/USD) with a live market cap of 46.6B. The 24-hour trading volume is $4.3B and the coin is down -1.39786%. The circulating supply is 147.3B, Dogecoin is down.
Dogecoin Fundamental Analysis
Fundamental analysis aims to assess the underlying value of an asset, while technical analysis involves studying statistical patterns in the price and trading volume of that asset. Both techniques are used to analyze and forecast possible future developments in the price of an asset.
In the case of DOGE, the simplest way to conduct a fundamental analysis is to look at the supply and demand dynamics. Additionally, the market cap (46.6B) and circulating supply (147.3B) can be considered to arrive at reasonable price assumptions for the future. On the demand side, on-chain data regarding the number of active addresses, new addresses, and the number of transactions can be considered.
What affects the price of Dogecoin?
There are a number of variables in the cryptocurrency market that can affect the price of Dogecoin up or down. The main force behind the market value of Dogecoin assets is supply and demand. Whether the demand for more DOGE increases or decreases largely depends on the growing adoption.
Furthermore, important events such as protocol updates or hard forks can play a big role in the price of Dogecoin.
Another important factor to consider is whale activity. Large holders of Dogecoin can have a significant impact on the price of the coin as a large sell order can cause the price to drop significantly. Additionally, never underestimate the power of large institutions and political organizations adopting Dogecoin’s value.
