Should You Buy Dogecoin (DOGE) Sunday?

Sunday, July 16, 2023 07:12 AM | InvestorsObserver Analysts

Dogecoin receives an average long-term technical score of 57 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the coin's consistency, volatility, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. Currently, DOGE holds a superior long-term technical analysis score than 57% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover coins that have bottomed out.

InvestorsObserver is giving Dogecoin a 57 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Dogecoin!

Trading Analysis

Dogecoin's price is $0.0000000 (-2.63%) below its 100-day moving average price of $0.070000000 as its price at the moment sits at $0.070000000. Additionally, DOGE is $0.0200000 (-19606.96%) higher than its 52-week low price of $0.060000000 while -$0.09000000 (-6316.06%) under its 52-week high of $0.160000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives DOGE an average long-term technical score of 57. Long-term trading movement of Dogecoin suggest that investors are neutral on the coin at the moment. Dogecoin has a market capitalization of $9,950,650,973.45 and a relatively high average daily volume with $3,874,287,495.12 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, DOGE's volume is below its seven day average with 549,479,626.48 exchanged. This coin's subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

DOGE's historical trading over the past year gives it a an average long-term technical score of 57 as its price movement in that time has given investors reason to be neutral on the coin in the long-term. Click Here to get the full Report on Dogecoin (DOGE).

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