Dogecoin (DOGE) Down 0.02% Friday: What's Next?

Friday, May 06, 2022 11:14 AM | InvestorsObserver Analysts

Dogecoin (DOGE) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Friday, the Digital Money has fallen 2.12% to $0.1266079371.

InvestorsObserver is giving Dogecoin a 30 Volatility Rank. Find out what this means to you and get the rest of the rankings on Dogecoin!

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Moderately Volatile

InvestorsObserver gives Dogecoin a moderate volatility rank of 30, placing it in the bottom 30% of cryptos on the market.

The Volatility Gauge tracks this makes its score defined by recent trends, rather than a bad day. DOGE's moderate volatility reading is coupled 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 well positioned going forward. With support around $0.121346991449423 and resistance at $0.13196244457347. This leaves Dogecoin with room to run before facing selling pressures.

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.