DOGE Volatility Analysis for CPI, 11th September 2024

Data Analysis

The data released by Bureau of Labor Statistics for Consumer Price Index on 11th September, 2024 has come in at a decrease to 0.1% for August 2024. Compared to the previous release for July 2024 at 0.1%, we can see that prices & inflation is increasing at the same rate month over month.

To see the impact and volatility of DOGE's price during the CPI release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 57.735M DOGE with prices swinging between 0.099630 and 0.100850, representing a swing of 1.21%. Subsequently, the trading volume increased significantly by 161% to 150.852M DOGE. Price action ranged from a low of 0.097850 to a high of 0.101500, a significant difference of 3.60%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 3.444M DOGE in trading volume was observed prior to the data release. Prices ranged between a low of 0.100440 to a high of 0.100850, a 0.41% change. Immediately following, trading volume increased significantly by 466% to 19.488M DOGE. At this time, Dogecoin hit a low of 0.100140 with a high of 0.101070, a significant change of 0.92%.

About Consumer Price Index

The Consumer Price Index (CPI) measures the monthly change in prices paid by U.S. consumers. The Bureau of Labor Statistics (BLS) calculates the CPI as a weighted average of prices for a basket of goods and services representative of aggregate U.S. consumer spending. The CPI is one of the most popular measures of inflation and deflation. The index is published monthly by the U.S. Bureau of Labor Statistics (BLS).