Dogecoin (DOGE) Up 3.98% Wednesday: What's Next?

Wednesday, April 26, 2023 03:29 PM | InvestorsObserver Analysts

Dogecoin (DOGE) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Digital Money has added 3.98% to $0.08135937458.

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 tracks this makes its score defined by recent trends, rather than a bad day. 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 above resistance. With support set at $0.0773588020956831 and resistance set at $0.0795289327061491. This leaves Dogecoin out of range and potentially in a volatile position if the rally burns out.

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.