DOGE Volatility Analysis for CPI, 12th July 2023

Data Analysis

The data released by Bureau of Labor Statistics for Consumer Price Index on 12th July, 2023 has come in at a decrease to 0.3% for June 2023. Compared to the previous release for May 2023 at 0.3%, 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 29.05M DOGE with prices swinging between 0.065120 and 0.065430, representing a swing of 0.47%. Subsequently, the trading volume increased significantly by 214% to 91.14M DOGE. Price action ranged from a low of 0.064510 to a high of 0.065700, a significant difference of 1.81%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 4.346M DOGE in trading volume was observed prior to the data release. Prices ranged between a low of 0.065120 to a high of 0.065330, a 0.32% change. Immediately following, trading volume increased significantly by 274% to 16.244M DOGE. At this time, Dogecoin hit a low of 0.065100 with a high of 0.065700, a significant change of 0.91%.

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).