DOGE Volatility Analysis for CPI, 12th March 2024

Data Analysis

The data released by Bureau of Labor Statistics for Consumer Price Index on 12th March, 2024 has come in at an increase to 0.6% for February 2024. Compared to the previous release for January 2024 at 0.5%, we can see that prices & inflation is increasing 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 285.986M DOGE with prices swinging between 0.168100 and 0.172340, representing a swing of 2.46%. Subsequently, the trading volume increased considerably by 81% to 516.475M DOGE. Price action ranged from a low of 0.164980 to a high of 0.173070, a significant difference of 4.67%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 32.209M DOGE in trading volume was observed prior to the data release. Prices ranged between a low of 0.168100 to a high of 0.169630, a 0.90% change. Immediately following, trading volume increased considerably by 67% to 53.65M DOGE. At this time, Dogecoin hit a low of 0.167590 with a high of 0.171770, a significant change of 2.43%.

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).