Is Dogecoin (DOGE) a Bad Investment Thursday?
InvestorsObserver analysis gives Dogecoin an average risk assessment. The proprietary scoring system calculates how much money was required to move the price over the past 24 hours with changes in volume and market capitalization to discover if a crypto can potentially be easily manipulated by limited trading activity. Low values representing high risk while high scores equate to low risk based on a 0 to 100 range.
DOGE’s risk gauge score translates to a moderate risk investment at the moment. Portfolio managers who heavily weigh risk assessment will find this gauge more relevant when attempting to avoid (or discover) more risky investments.
The price of Dogecoin is 3.11% lower over the last 24 hours, leading to its current value of $0.07. The change in price goes along with volume being below its average level while the coin’s market capitalization has risen during the same time period. The crypto’s market capitalization is now $9,305,552,772.71, meanwhile $404,855,498.31 worth of the currency has been traded over the past 24 hours. The volatility in price relative to the changes in volume and market cap changes give Dogecoin an average risk analysis.
DOGE’s price movement over the past day of trading leads to an average risk ranking as its recent price movement relative to trading volume gives traders reason to be not overly concerned on the coin’s manipulability as of now.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.