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Should You Buy Skycoin (SKY) Saturday?

Saturday, May 07, 2022 08:46 AM | InvestorsObserver Analysts
Should You Buy Skycoin (SKY) Saturday?

InvestorsObserver analysis gives Skycoin a high risk assessment. The proprietary scoring system calculates how much money was required to move the price over the past 24 hours with changes in volume and market capitalization to discover if a crypto can potentially be easily manipulated by limited trading activity. Low values representing high risk while high scores equate to low risk based on a 0 to 100 range.

Risk/Reward Score - High
InvestorsObserver is giving Skycoin a high Risk/Reward Score. Find out what this means to you and get the rest of the rankings on Skycoin!

Trading Analysis

The risk gauge rank for SKY shows the coin is currently a high risk investment. Traders focused on risk assessment will find the gauge most useful for avoiding (or adding) risky investments.
The price of Skycoin is -30.64% lower over the last 24 hours, leading to its current value of $0.14. The change in price goes along with volume being below its average level while the coin's market capitalization has fallen during the same time period. The crypto's market capitalization is now $2,987,533.97, meanwhile $192.24 worth of the currency has been traded over the past 24 hours. The volatility in price relative to the changes in volume and market cap changes give Skycoin a high risk analysis.

Summary

SKY's price movement over the past day of trading leads to a high risk ranking as its recent price movement relative to trading volume gives traders reason to be concerned on the coin's manipulability as of now. Click Here to get the full Report on Skycoin (SKY).

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