Dogecoin (DOGE) has seen a modest upward trend in the past 24 hours, rising 0.26% to trade at $0.2522. This mild uptick signals growing investor interest despite a shaky start. The trading volume, however, tells a different story, dipping 15.75% to $1.28 billion, suggesting lower activity.
Market Overview
DOGE currently boasts a $37.35 billion market cap, up 0.27%, keeping its position as one of the top meme coins. The circulating supply stands at 148.11 billion DOGE, with no max supply, maintaining its inflationary nature.
24-hours price chart. Source: CoinMarketCap
In the past day, DOGE fluctuated between $0.2426 and $0.2552, showing a clear battle between bulls and bears. The dip below $0.25 initially raised concerns, but buyers stepped in, pushing prices back up.
Related article: Analyst Identifies Key Dogecoin Pattern That Could Propel It Past $1
Now, $0.255 serves as a key resistance level. A strong breakout above this could fuel more gains, but if sellers take control, a pullback toward $0.245 is possible.
Long-Term Perspective
Looking at historical trends, Dogecoin remains far from its all-time high of $0.7376 (May 2021), still 65.7% down. However, compared to its all-time low of $0.00008547 (May 2015), the meme coin has skyrocketed by 295,908.04%, proving its long-term growth potential.
Related article: Dogecoin Dips 1.87%: Can DOGE Bounce Back After a Slump?
DOGE’s price action suggests consolidation, but it could soon see more volatility. If trading volume picks up and Bitcoin leads a broader rally, Dogecoin might challenge the $0.26-$0.27 range. On the flip side, if selling pressure increases, it may revisit the $0.24 zone.
For now, DOGE remains in a tug-of-war, waiting for a catalyst to decide its next move. Will the bulls push higher, or will the bears drag it back down?
