DOGS token has also been on the rise in the recent past in the cryptocurrency market with the price of the token standing at $0. 001092 after an 8. This has gone up by 72% within the last 24 hours. This upward movement has taken the company’s market capitalization to $564. 2 million, a 9. It has also posted a 42% gain which has placed it at 96th position of the most traded cryptocurrencies.
This is in line with the increase in DOGS’ market capitalization which points towards enhanced investors’ interest as witnessed by the 20. The Trading Volume has therefore risen by 75% to $472. 5 million. This trading volume, which places DOGS at the 12 th position based on daily trading activity, shows that there is a lot of activity in the market, and this is due to high levels of investors’ participation.
The volume to market capitalization ratio was at 83. 19% demonstrates the level of trading in relation to the market capitalisation of DOGS, which points to the fact that a large proportion of the company’s market capitalisation is turning over. This is a good sign of market activity and liquidity and thus DOGS is a great asset in the crypto market.
DOGS current supply is 516. 75 billion tokens, which forms 93 percent of its total. According to the information stated in their documents, 95% of the token is currently in circulation with the network having a total of 550 billion tokens. Having a max supply equal to the total supply, DOGS is almost completely distributed which reduces the likelihood of new tokens being introduced into the market. This is ideal to price stability because the market value will be mostly controlled by the demand and not by the supply of tokens.
The fully diluted market capitalization was estimated to be at $604. five million, gives an idea of how much DOGS may be worth if all tokens were to be in the market. The only notable difference between the current market capitalization and fully diluted market capitalization is the slight difference in token pricing which may be attributed to investors’ perceptions.
Thus, DOGS is now going through the period of the growth of market capitalization and trading volume. The high of the volume to the market capitalization ratio and almost complete circulating supply are good signs regarding the prospects of liquidity and price sustainability which makes DOGS a good investment asset. However, like with any other cryptocurrency, it is advised that market players pay attention to the general market and its risks.