Dogecoin (DOGE) has demonstrated significant activity in the cryptocurrency market over the past 24 hours. With a current price of $0.1295, DOGE has seen a notable 4.29% increase. This substantial price rise highlights a positive shift in investor sentiment and growing interest in Dogecoin within the market.
The market capitalization of Dogecoin stands at $18,806,992,748, positioning it as the 8th largest cryptocurrency by market cap. This figure has also increased by 4.24% in the past day, reflecting the rise in its price. The growth in market cap indicates strong investor confidence and a favorable market outlook for Dogecoin.
In the last 24 hours, Dogecoin’s trading volume has reached $845,011,426, ranking it 13th in terms of volume. This represents a 6.49% increase, underscoring a rise in trading activity. The volume-to-market cap ratio is 4.51%, offering insights into the liquidity and trading dynamics of Dogecoin. This high ratio suggests active trading relative to its overall market cap, reflecting robust market engagement and interest.
Dogecoin’s circulating supply is 145,271,696,384 DOGE, which matches its total supply. This indicates that all Dogecoin tokens are currently in circulation. The full circulation of DOGE tokens contributes to market stability, as there are no additional tokens expected to impact the supply and demand balance.
Dogecoin does not have a maximum supply cap, distinguishing it from cryptocurrencies with a finite supply. The absence of a capped supply means that new DOGE tokens can continue to be created, potentially affecting the coin’s long-term value and inflationary tendencies. Investors often consider this factor when evaluating Dogecoin’s future prospects and investment potential.
The fully diluted market cap of Dogecoin is reported at $18,767,996,302. This metric provides a comprehensive view of the cryptocurrency’s valuation if all potential tokens were in circulation. The close alignment between the current market cap and the fully diluted market cap highlights the stability of the existing supply situation, with minimal differences suggesting that the market has already accounted for the entire supply.
The 4.29% price increase within a single day reflects a strong positive sentiment towards Dogecoin. This significant price movement, coupled with the rise in market cap and trading volume, points to a period of increased interest and activity. Various factors, including market trends, technological developments, or broader economic conditions, may influence this positive sentiment and contribute to Dogecoin’s recent performance.
Dogecoin’s position as the 8th largest cryptocurrency by market cap and its active trading volume emphasize its significant presence in the crypto market. The current market dynamics, including a stable circulating supply and active trading environment, reinforce Dogecoin’s role as a major player in the cryptocurrency space. The lack of a maximum supply cap means that its value and market behavior will be influenced by ongoing supply and demand factors.
Overall, Dogecoin’s recent market performance reflects growing importance and positive sentiment. The notable price increase, stable market cap, and substantial trading volume indicate a period of momentum and investor confidence for Dogecoin. Understanding the factors driving these trends and staying updated on future developments will be essential for stakeholders navigating the cryptocurrency market.
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