What’s in Store for Dogecoin (DOGE) After Sunday’s 0.66% Increase?
Dogecoin (DOGE) has experienced average volatility compared to other cryptocurrencies. As of Sunday, the price of Dogecoin has increased by 0.66% to $0.07209525015. InvestorsObserver has given Dogecoin a volatility rank of 27, indicating moderate volatility. This places Dogecoin in the bottom 27% of cryptocurrencies in terms of volatility.
The Volatility Gauge provided by InvestorsObserver analyzes recent trends to determine the volatility rank. This means that the rank is based on recent fluctuations rather than a single day of trading. Along with its moderate volatility rank, Dogecoin has a low reading on the Risk/Reward Gauge. This suggests that the coin experiences moderate price swings and is less susceptible to price manipulation.
A coin is a type of cryptocurrency that exists on its own blockchain. These coins are often used for payments. The specific use of these payments can vary depending on the cryptocurrency. Some may be used for general transactions in the Digital Money sub-class, while others may have more specific uses in other sub-classes.
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Overall, Dogecoin has exhibited moderate volatility compared to other cryptocurrencies. Its price has seen a slight increase as of Sunday. Investors can utilize the volatility rank and other gauges provided by InvestorsObserver to assess the risk and potential rewards associated with Dogecoin.