Dogecoin Dips Over 6% in 24 Hours: Market Analysis

Dogecoin experiences a 6.74% decline in price within 24 hours, contrasting with its recent positive trend.

Dogecoin price has seen a 6.74% decrease over the last 24 hours, marking a deviation from its recent upward trajectory. Despite a 12.0% gain over the past week, with its price rising from $0.18 to $0.20, the recent dip has drawn attention.

Analyzing the price movements, the chart illustrates the contrast between the daily and weekly volatility of Dogecoin. Bollinger Bands depict the fluctuations, indicating wider bands during periods of increased volatility.

Meanwhile, trading volume has surged by 37.0% in the past week, showing a contrary movement to the circulating supply, which has decreased by 0.57%. The current circulating supply stands at 143.70 billion DOGE, contributing to a market cap ranking of #9 at $29.01 billion, according to available data.

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