Is Dogecoin (DOGE) a Profitable Investment on Monday?
According to an analysis by InvestorsObserver, Dogecoin (DOGE) has been given a low risk assessment. The analysis uses a proprietary scoring system to calculate the amount of money required to move the price of DOGE over the past 24 hours, taking into account changes in volume and market capitalization. This is done to determine if the cryptocurrency can potentially be easily manipulated by limited trading activity. Low values on the scoring system represent high risk, while high scores indicate low risk on a 0 to 100 range.
A low Risk/Reward Score has also been given to Dogecoin by InvestorsObserver. This score is relevant for portfolio managers who weigh risk assessment heavily and can help them identify more risky or less risky investments.
Currently, Dogecoin is trading 0.72% lower compared to the last 24 hours, with a price of $0.07. This price movement has occurred alongside below-average volume and an increase in the coin’s market capitalization. The market capitalization for DOGE now stands at $9,491,602,852.08, and $329,936,656.38 worth of the cryptocurrency has been exchanged over the past 24 hours. Based on the recent price movement relative to changes in volume and market cap, DOGE has been given a low risk assessment.
Overall, the recent price movement of DOGE indicates a low risk score for the cryptocurrency due to its price volatility in the past 24 hours in relation to volume changes. This gives traders confidence in the coin’s manipulability at the moment.
To get the full report on Dogecoin, interested individuals can click on the provided link.
About The Author
