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

Sunday, March 12, 2023 09:15 AM | InvestorsObserver Analysts

InvestorsObserver analysis gives Dogecoin an average risk assessment. The proprietary scoring system calculates how much money was required to move the price over the past 24 hours with changes in volume and market capitalization to discover if a crypto can potentially be easily manipulated by limited trading activity. Low values representing high risk while high scores equate to low risk based on a 0 to 100 range.

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!

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Trading Analysis

DOGE's risk gauge score translates to a moderate risk investment at the moment. Portfolio managers who heavily weigh risk assessment will find this gauge more relevant when attempting to avoid (or discover) more risky investments. DOGE has traded 2.14% lower over the past 24 hours to its current price of $0.07. This shift has occurred while volume is below its average level and the coin's market capitalization has risen. The cryptocurrency now has a market capitalization of $8,794,343,354.64 while $263,981,817.84 worth of the coin has traded over the last 24 hours. The price change in relation to the degree of volume and market cap changes gives Dogecoin an average risk rating.

Summary

DOGE's price movement over the past day of trading leads to an average risk ranking as its recent price movement relative to trading volume gives traders reason to be not overly concerned on the coin's manipulability as of now. Click Here to get the full Report on Dogecoin (DOGE).