What are the highest and lowest prices in Dogecoin history?

Dogecoin’s all-time high price is $0.7378 (May 8, 2021) and its all-time low price is $0.00008671 (March 6, 2015). Its price is affected by factors such as community support, celebrity endorsements, market sentiment, and supply and demand.

Dogecoin’s all-time high and low prices

Dogecoin is a popular cryptocurrency known for its Known for their cute puppy mascots. Since its launch in 2013, its price has experienced significant fluctuations.

All-Time High Price

Dogecoin’s all-time high price is $0.7378, which was set on May 8, 2021. At the time, the cryptocurrency market was booming, championed by big names like Tesla CEO Elon Musk.

All-time Low Price

Dogecoin’s all-time low price is $0.00008671, which was set on March 6, 2015. At the time, the cryptocurrency market was in a downturn and Dogecoin’s value dropped significantly.

Factors affecting price

The price of Dogecoin is affected by a variety of factors, including:

• Community support: Dogecoin has a strong community, which has played a significant role in driving its price upwards.
• Market Sentiment: Cryptocurrency market sentiment has a strong impact on Dogecoin price. When market sentiment is positive, prices tend to rise, and when sentiment is negative, prices tend to fall.
• Celebrity Endorsements: Endorsements from celebrities like Elon Musk help increase Dogecoin’s popularity and appeal, which could lead to an increase in price.
• Supply and Demand: Dogecoin’s supply is uncapped, which could put downward pressure on the price. However, increased demand could help boost prices.

Dogecoin (DOGE) price update

As of 12:00 on August 28, 2024, the price of Dogecoin is $0.099586, 24 hours Transaction volume was $656 million.

Recent Volatility

Dogecoin price is down 5.89% in the past 24 hours. The price fluctuations are mainly due to:

• Weak market sentiment: The overall cryptocurrency market has been on a downward trend recently.
• Dogecoin supply increases: Dogecoin is generating 10,000 new coins every minute, which increases supply and puts pressure on price.

Future Outlook

The future price trend is difficult to predict, but the following factors may affect Dogecoin:

• Regulatory Developments: Clarity regarding cryptocurrency regulations could boost market sentiment.
• Institutional Adoption: The participation of more institutional investors will bring more liquidity and potential price increases.
• Community Engagement: Dogecoin’s strong community base will likely continue to provide support for the price.

It is recommended that

Investors should invest with caution and conduct their own research before investing. It is recommended to have a long-term investment strategy as it can help withstand market fluctuations.

Short-Term Forecast

In the short term, Dogecoin price is likely to continue to be influenced by market sentiment and increased supply.

Indicators

• Price: 0.099586 USD
• 24 hour trading volume: 656 million USD
• Circulation volume: 1,457,156,963,833.71 DOGE
• Market capitalization: US$14.511 billion

The above is the detailed content of What are the highest and lowest prices in Dogecoin history?. For more information, please follow other related articles on the PHP Chinese website!