Dogecoin (DOGE) Falls 0.04%, Underperforms the Crypto Market Thursday

Thursday, May 11, 2023 05:14 PM | InvestorsObserver Analysts

Dogecoin (DOGE) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the Digital Money has lost 4% to $0.0708491893.

InvestorsObserver is giving Dogecoin a 34 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 34, placing it in the bottom 34% of cryptos on the market.

The Volatility Gauge follows which means that one day won't define its volatility rank - a trend will. 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 at $0.0680937275055387 and resistance around $0.0713813110950925. This positions 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.