Dogecoin (DOGE) Falls 0.05%, Underperforms the Crypto Market Thursday

Thursday, December 15, 2022 12:19 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 dropped 4.86% to $0.08684659979.

InvestorsObserver is giving Dogecoin a 57 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 57, placing it in the top 43% of cryptos on the market.

The Volatility Gauge tracks this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. DOGE's moderate volatility reading comes 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 around $0.0832971773797921 and resistance at $0.0872929610068253. 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.