Dogecoin (DOGE) has experienced mild downward pressure over the past 24 hours, with prices declining 1.28% to trade around $0.2530 at the time of writing. The decline follows a brief recovery attempt earlier in the day as traders tried to push the token above the $0.26 resistance level.

Supply Structure and Long-Term Considerations

Dogecoin maintains a market capitalization of $38.27 billion, ranking it eight among all cryptocurrencies. The token recorded a 24-hour trading volume of $3.82 billion, marking a 9.16% drop from the previous session. The decline in trading activity suggests a waning of short-term momentum following recent price fluctuations.

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Dogecoin’s fully diluted valuation (FDV) currently matches its market cap at $38.27 billion, with a total and circulating supply of 151.26 billion DOGE. Notably, the token has no maximum supply cap, which remains a long-term concern for investors focused on scarcity-driven growth.

Recent Price Action and Technical Levels

Over the past 24 hours, DOGE traded between $0.2441 and $0.2557, showing relatively narrow volatility despite the broader crypto market’s fluctuations. The price briefly dipped below $0.25, but buyers managed to reclaim that level before the session closed.

_{24-hour price chart. Source: CoinMarketCap}

Still, the chart shows DOGE struggling to maintain upward momentum. The recent correction followed a quick selloff from the $0.261 zone, where resistance capped the coin’s short rally. If buying volume remains low, Dogecoin could retest the $0.24 support range soon.

Dogecoin’s all-time high remains $0.7376, set on May 8, 2021, during the peak of the meme coin mania. Compared to that peak, DOGE is now down about 65.66%. Its all-time low of $0.00008547, recorded on May 7, 2015, reflects an astounding +296,246.32% lifetime gain, showing how far the token has come since its early days as a joke cryptocurrency.

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Dogecoin’s short-term momentum remains cautious. Despite strong community support and market cap stability, its price continues to fluctuate within a tight band around $0.25. Sustained buying pressure will be needed to push DOGE above $0.26, otherwise, the token could face renewed downside toward $0.24 in the coming days.