Dogecoin (DOGE) Down 0.03% Thursday: What’s Next?
Dogecoin (DOGE) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Digital Money has dropped 2.54% to $0.0596454934.
InvestorsObserver gives Dogecoin a moderate volatility rank of 26, placing it in the bottom 26% of cryptos on the market.
The Volatility Gauge takes into account meaning that one day won’t make or break its rank.
DOGE’s moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Dogecoin price is trading near resistance. With support near $0.0579986198848511 and resistance at $0.0598811618095661. This leaves Dogecoin with potential selling pressures ahead as it may be getting over extended.
What is a Coin?
A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.
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