InvestorsObserver analysis gives 8Bit Doge 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.
BITD’s current risk score means it is a relatively high 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 8Bit Doge is 33.07% lower over the last 24 hours, leading to its current value of $0.000840081. The change in price goes along with volume being below its average level while the token’s market capitalization has risen during the same time period. The crypto’s market capitalization is now $2,173,880.03, meanwhile $57,618.84 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 8Bit Doge a high risk analysis.
The price volatility of BITD over the last 24 hours results in a high risk analysis due to its price volatility in combination with changes in trading volume, giving investors a reason to be concerned on the token’s manipulability as of now.