- Dogecoin’s price rises to $0.3261, marking a 5% daily gain.
- Market capitalization surpasses $48 billion as trading volumes surge.
- Strong demand reinforces its position as a leading cryptocurrency.
Dogecoin has shown a notable surge, climbing by 5% in the last 24 hours to reach $0.3261. This price movement comes with an increased market capitalization of $48.09 billion, maintaining its standing as a top cryptocurrency by value. The 24-hour trading volume also reflects heightened activity, standing at $2.85 billion, an indicator of increased interest from traders and investors.
The coin’s total supply stands at 147.42 billion DOGE, with almost all of it in circulation. This aligns with Dogecoin’s appeal as a cryptocurrency with active use cases, particularly for payments and tipping in online communities. Over the course of 2024, Dogecoin has maintained its visibility in the crypto market, thanks to community-driven initiatives and increased adoption in mainstream businesses.
Support Levels Hold Amid Positive Momentum
Dogecoin’s price action on December 31 has been defined by a strong upward trend. Support levels have been holding firm near $0.31, while resistance levels at $0.33 are currently being tested. A sustained breakout above the resistance zone could see the price heading toward new highs in early 2025.
The CoinGecko chart highlights a steady build-up in price over the last 24 hours, reflecting growing market confidence. This upward movement underscores Dogecoin’s capacity to generate interest as a utility-focused digital asset. Additionally, its reputation as an internet-fueled cryptocurrency makes it an appealing option for smaller transactions and high-frequency trading.
Dogecoin’s Community Drives Consistent Demand
The growth in Dogecoin’s price can be partly attributed to its active community, which continues to advocate for its use in real-world applications. The coin has gained traction as a payment method for merchants globally, and this utility has contributed to its sustained relevance in the cryptocurrency landscape.
As the year ends, Dogecoin’s steady rise and increasing adoption signal a solid foundation for 2025. Strong trading volumes, sustained community activity, and its expanding use in various applications make it a coin to watch in the coming year.
