Dogecoin (DOGE) Up 3.96% Wednesday: What's Next?

Wednesday, January 24, 2024 07:56 AM | InvestorsObserver Analysts

Dogecoin (DOGE) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Digital Money has advanced 3.96% to $0.08002478736.

InvestorsObserver is giving Dogecoin a 25 Volatility Rank. Find out what this means to you and get the rest of the rankings on Dogecoin!

Moderately Volatile

InvestorsObserver gives Dogecoin a moderate volatility rank of 25, placing it in the bottom 25% of cryptos on the market.

The Volatility Gauge tracks this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. DOGE's moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Dogecoin price is trading near resistance. With support around $0.0748190669135354 and resistance at $0.0804056687073014. This leaves Dogecoin with potential selling pressures ahead as it may be getting over extended.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.

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