Dogecoin (DOGE)

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Daily analysis of Dogecoin (DOGE) - 1 month

The performance of Dogecoin regarding the price differs every day. To make the best decision to buy Dogecoin, we are analysis in this article the performance of Dogecoin on the different weekdays. The amounts for this analysis are in USD ($). The analysis is performed on the last 1 month, starting on April 20th, 2024 to May 17th, 2024.

In the barchart below, the weekdays and average performance of Dogecoin are shown side by side.

Average daily change in price of Dogecoin per weekday between 04/20/2024 and 05/17/2024.

According to the performance of Dogecoin between April 20th, 2024 and May 17th, 2024, Dogecoin performed the best on Thursdays. On average, the price of Dogecoin increased 0.01% on Thursday.

The weekday on which the Dogecoin performed the worst, is Tuesday. On Tuesdays, the Dogecoin declined in value on average by -1.83%.

Dogecoin weekday performance

It is hard to tell whether the Dogecoin will increase or decrease in value on an average Sunday. The average change on a Sunday for the Dogecoin is -0.19%. However, the standard deviation on this weekday is 0.29%. This means that on most Sundays, the change in value of the Dogecoin is between -0.47% and 0.10%.

Allthough the Dogecoin decreases in value with -0.56% on an average Monday, the uncertainty of this decline is large. The standard deviation of the change of Dogecoin on Mondays is 0.97%. This means that the expected change of the value of Dogecoin is between -1.54% and 0.41% on 68 out of 100 Mondays.

The Dogecoin declines in value on an average Tuesday with -1.83%. However, the uncertainty (or standard deviation) is quite large, namely 3.01%. This means that it is not possible to say whether on a regular Tuesday the Dogecoin will increase or decrease in value.

It is hard to tell whether the Dogecoin will increase or decrease in value on an average Wednesday. The average change on a Wednesday for the Dogecoin is -0.02%. However, the standard deviation on this weekday is 0.03%. This means that on most Wednesdays, the change in value of the Dogecoin is between -0.05% and 0.01%.

Dogecoin increased in value on an average Thursday only slightly. The average increase in value of the Dogecoin was 0.01%. Allthough the Dogecoin closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (0.07%). This means that on 68 percent of the Thursdays, the change in price of the Dogecoin is expected to be in the range of -0.06% and 0.09%.

Allthough the Dogecoin decreases in value with -0.56% on an average Friday, the uncertainty of this decline is large. The standard deviation of the change of Dogecoin on Fridays is 0.98%. This means that the expected change of the value of Dogecoin is between -1.54% and 0.42% on 68 out of 100 Fridays.

It is hard to tell whether the Dogecoin will increase or decrease in value on an average Saturday. The average change on a Saturday for the Dogecoin is -0.05%. However, the standard deviation on this weekday is 0.06%. This means that on most Saturdays, the change in value of the Dogecoin is between -0.11% and 0.01%.

Dogecoin weekday performance details

Find below the details of the performance of Dogecoin per day of the week. Both the average change in percentage and the standard deviation. The higher the standard deviation is, the higher the variation within the range of average change. Therefore, the 68% range has been added, which represents the change in price on 68% of the days.

Weekday Average change (%) Standard deviation (%) 68% range
Sunday -0.19% 0.29% -0.47% to 0.10%
Monday -0.56% 0.97% -1.54% to 0.41%
Tuesday -1.83% 3.01% -4.84% to 1.19%
Wednesday -0.02% 0.03% -0.05% to 0.01%
Thursday 0.01% 0.07% -0.06% to 0.09%
Friday -0.56% 0.98% -1.54% to 0.42%
Saturday -0.05% 0.06% -0.11% to 0.01%
 

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