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Dogecoin (DOGE): Does the Reward Outweigh the Risks?

Thursday, October 06, 2022 07:09 PM | InvestorsObserver Analysts
Dogecoin (DOGE): Does the Reward Outweigh the Risks?

Dogecoin receives an average risk rating from InvestorsObserver analysis. The proprietary scoring system analyzes how much money was required to move the price over the past 24 hours. The metric looks at recent changes in volume and market cap to evaluate how much a coin can be manipulated by limited trading. The score ranges from 0 to 100, with low scores representing high risk and high values equating to low risk.

Risk/Reward Score - Medium
InvestorsObserver is giving Dogecoin a medium Risk/Reward Score. Find out what this means to you and get the rest of the rankings on Dogecoin!

Trading Analysis

The risk gauge rank for DOGE shows the coin is currently a moderate risk investment. Traders focused on risk assessment will find the gauge most useful for avoiding (or adding) risky investments.
Dogecoin is -1.59% lower as of the last 24 hours of trading, resulting in its current price of $0.06. The price movement has coincided with volume being below its average level and the coin's market capitalization fallen. The market capitalization for the coin now sits at $8,419,862,468.99 while $386,547,520.01 worth of the crypto has been exchanged over the past 24 hours. The price movement relative to the changes in volume and market cap recently, gives DOGE an average risk assessment.

Summary

Recent price movement of DOGE gives the cryptocurrency an average risk score due to past 24 hours of price volatility in relation to volume changes, giving traders reason to be not overly concerned on the coin's manipulability at the moment. Click Here to get the full Report on Dogecoin (DOGE).

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