Dogecoin Down More Than 10% Within 24 Hours
Over the past 24 hours, Dogecoin's price has seen a significant drop, falling 10.51% to $0.12. This sharp decline continues a negative trend observed over the past week, during which Dogecoin has experienced a 14.0% loss, decreasing from $0.14 to its current price.
The chart compares the price movement and volatility for Dogecoin over the past 24 hours (left) to its price movement over the past week (right).
Understanding Volatility with Bollinger Bands
The Bollinger Bands in the chart above measure volatility for both daily and weekly price movements. The wider the bands (or larger the gray area), the greater the volatility. This tool helps traders understand how much the price may fluctuate.
Increased Trading Volume and Circulating Supply
In spite of the dropping price, Dogecoin's trading volume has climbed notably by 46.0% over the past week. Simultaneously, the circulating supply of Dogecoin has increased 0.07%, bringing the total to 144.76 billion coins in circulation.
Market Cap Ranking
Despite recent losses, Dogecoin holds a strong position in the market. According to our data, its current market cap ranking is #9, with a market cap of $17.49 billion. This solid ranking indicates Dogecoin’s sustained prominence in the cryptocurrency market.
Summary
In summary, while the price of Dogecoin has taken a significant hit recently, its trading activity and market relevance remain robust. The increase in trading volume and circulating supply reflects ongoing interest and participation in this popular cryptocurrency.
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