Should Dogecoin (DOGE) Be Considered a Risky Investment on Friday?
Dogecoin, a cryptocurrency, has received an average risk assessment according to analysis by InvestorsObserver. The analysis is based on a proprietary scoring system that measures the amount of money needed to move the price of Dogecoin in the past 24 hours, along with changes in volume and market capitalization. The score ranges from 0 to 100, with low values indicating high risk and high values indicating low risk.
InvestorsObserver’s risk/reward score for Dogecoin is classified as medium. This score is useful for investors who are primarily concerned with risk assessment and want to avoid or seek out risky investments.
In the past 24 hours, Dogecoin has experienced a 6.91% decrease in price, resulting in a current price of $0.07. The decrease in price has coincided with below-average trading volume and an increase in the coin’s market capitalization, which now stands at $9,800,411,787.30. A total of $792,317,536.83 worth of Dogecoin has been traded in the past 24 hours. Based on these price and volume movements, Dogecoin is given an average risk assessment.
The analysis concludes that the price volatility of Dogecoin over the past 24 hours, combined with changes in trading volume, results in an average risk analysis. This suggests that investors should not be overly concerned about the coin’s manipulability at the moment.
In order to access the full report on Dogecoin, readers are directed to click on a provided link.
Overall, Dogecoin is considered a moderate risk investment based on its current risk score and recent price movements.
About The Author
