Dogecoin (DOGE), Low Volatility but Falling Tuesday: Is it Time to Cash Out?

Tuesday, June 06, 2023 08:56 AM | InvestorsObserver Analysts

Dogecoin (DOGE) has been relatively less volatile when compared to other cryptocurrencies. So far Tuesday, the Digital Money has dropped 7.24% to $0.06641340787.

InvestorsObserver is giving Dogecoin a 21 Volatility Rank. Find out what this means to you and get the rest of the rankings on Dogecoin!

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Low Volatility

InvestorsObserver gives Dogecoin a low volatility rank of 21, placing it in the bottom 21% of cryptos on the market.

The Volatility Gauge analyzes this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. DOGE's low volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Dogecoin price is trading near resistance. With support near $0.0602941802530124 and resistance at $0.0680987602858378. This leaves 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.