Dogecoin receives a low risk rating from InvestorsObserver analysis. The proprietary scoring system analyzes how much money was required to move the price over the past 24 hours. The metric looks at recent changes in volume and market cap to evaluate how much a coin can be manipulated by limited trading. The score ranges from 0 to 100, with low scores representing high risk and high values equating to low risk.
Trading Analysis
DOGE’s current risk score means it is a relatively low risk investment. Investors primarily concerned with risk assessment will find this score most useful in order to avoid (or potentially seek out) risky investments.
The price of Dogecoin is 1.36% lower over the last 24 hours, leading to its current value of $0.09. The change in price goes along with volume being below its average level while the coin’s market capitalization has risen during the same time period. The crypto’s market capitalization is now $11,585,375,843.52, meanwhile $590,859,438.72 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 Dogecoin a low risk analysis.
Summary
The price volatility of DOGE over the last 24 hours results in a low risk analysis due to its price volatility in combination with changes in trading volume, giving investors a reason to be confident on the coin’s manipulability as of now.
Click Here to get the full Report on Dogecoin (DOGE).
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
