What are the factors contributing to the volatility of dogecoin?

1 answers

• Dec 16, 2021 · 3 years ago
  At BYDFi, we believe that the volatility of dogecoin is mainly driven by market speculation and sentiment. As a decentralized cryptocurrency, dogecoin is highly influenced by the actions and beliefs of its community. Any news or events that impact the perception of dogecoin can lead to significant price fluctuations. Additionally, the lack of regulation in the cryptocurrency industry allows for market manipulation, which can further contribute to volatility. It's important for investors to stay informed and make decisions based on thorough research and analysis to navigate the volatile nature of dogecoin.
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