Dogecoin (DOGE) Surges by 5.87% on Saturday: What Awaits Ahead?
Dogecoin (DOGE) has experienced relatively low volatility compared to the rest of the crypto market. On Saturday, the digital currency saw a 5.87% increase in value, reaching $0.06799030293.
InvestorsObserver has assigned Dogecoin a 21 Volatility Rank, indicating its low volatility. This places it in the bottom 21% of cryptocurrencies on the market. The rank reflects recent trends and is not heavily influenced by sudden spikes or fluctuations in volatility.
The low volatility of DOGE is accompanied by a low reading on the Risk/Reward Gauge, indicating that the coin has narrow price swings and is well-protected from price manipulation. Currently, Dogecoin is trading above resistance levels, with support at $0.0623386509948271 and resistance at $0.0664070330791967. This suggests that the coin is out of its normal range and could be in a volatile position if the rally slows down.
In terms of cryptocurrency, a coin refers to a digital currency that operates on its own blockchain. Coins are typically used for payments, though the specific uses can vary within different sub-classes of the digital money market.
Overall, Dogecoin’s low volatility and relatively stable price swings make it an attractive option for investors looking for a more predictable cryptocurrency. However, the current rally and potential for volatility should be taken into account when considering investment opportunities in Dogecoin.
About The Author
