Is the Risk Worth the Reward?
According to InvestorsObserver analysis, Dogecoin has an average risk assessment. InvestorsObserver uses a proprietary scoring system to calculate the potential manipulability of a cryptocurrency based on changes in price, volume, and market capitalization. The score ranges from 0 to 100, where low values indicate high risk and high scores indicate low risk.
The risk/reward score for Dogecoin is classified as medium. This means that it is not considered a high-risk investment, but it also does not offer high potential rewards. Traders who focus on risk assessment can use this gauge to determine whether to avoid or add this cryptocurrency to their portfolio.
In the past 24 hours, Dogecoin has experienced a 1.42% decrease in price, bringing its current price to $0.06. The decrease in price coincided with a lower than average trading volume, but the market capitalization of the coin has increased. The market capitalization currently stands at $8,695,662,309.35, and a total of $200,010,215.05 worth of Dogecoin has been exchanged in the past 24 hours. Based on the recent price movement relative to volume and market cap, Dogecoin is given an average risk assessment.
Overall, the recent price movement of Dogecoin suggests that it has an average risk ranking. Traders do not need to be overly concerned about the potential manipulability of the coin at this time.
Investors can access the full report on Dogecoin (DOGE) by clicking on the provided link.
In summary, Dogecoin has an average risk assessment according to InvestorsObserver. The recent price movement, along with volume and market capitalization changes, suggests that the coin is not highly manipulable at the moment.
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