DOGE Volatility Analysis for GDP Report, 28th October 2021

Data Analysis

The data released by Bureau of Economic Analysis for Gross Domestic Product Report on 28th October, 2021 has come in at a decrease to 2.0% for 2021 3rd Quarter. Compared to the previous release for 2021 2nd Quarter at 6.7%, we can see that GDP growth is still increasing but slowed quarterly.

To see the impact and volatility of DOGE's price during the GDP Report 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 2.875B DOGE with prices swinging between 0.286200 and 0.311400, representing a swing of 8.09%. Subsequently, the trading volume decreased by 16% to 2.409B DOGE. Price action ranged from a low of 0.295600 to a high of 0.324100, a difference of 8.79%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 133.739M DOGE in trading volume was observed prior to the data release. Prices ranged between a low of 0.297100 to a high of 0.303900, a 2.24% change. Immediately following, trading volume decreased by 17% to 110.973M DOGE. At this time, Dogecoin hit a low of 0.295600 with a high of 0.302300, a change of 2.22%.

About Gross Domestic Product Report

The GDP report is one of the BEA's most crucial outputs. It tells us the monetary value of all the finished goods and services produced within a country's borders in a specific time period. GDP gives the public an indication of an economy's size. Moreover, when compared against prior periods, this data can reveal whether the economy is expanding (producing more goods and services) or contracting (registering declining output). The direction of GDP helps central banks determine whether it is necessary to intervene with monetary policy or not.

Disclaimer

The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.

DOGE-USDT

Dogecoin

Open

0.238600

Close

0.301700

24h Change

0.0631 (20.91%)

24h High

0.340000

24h Low

0.232400

24h Volume

17.431B DOGE

US Gross Domestic Product Report

Bureau of Economic Analysis

28th October, 2021, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before0.29830.29930.29720.2978-0.17%0.70%7.359M DOGE
During0.29790.29820.29620.2966-0.44%0.67%6.553M DOGE
 
5 Minutes
Before0.29780.30070.29710.29780.00%1.20%38.495M DOGE
During0.29790.29820.29560.297-0.30%0.87%28.853M DOGE
 
10 Minutes
Before0.29980.3010.29710.2978-0.67%1.30%64.72M DOGE
During0.29790.30160.29560.30030.80%1.99%75.692M DOGE
 
15 Minutes
Before0.30110.30390.29710.2978-1.11%2.24%133.739M DOGE
During0.29790.30230.29560.30171.26%2.22%110.973M DOGE
 
30 Minutes
Before0.29630.30390.29290.29780.50%3.62%329.541M DOGE
During0.29790.3150.29560.31114.24%6.16%406.886M DOGE
 
1 Hour
Before0.29250.30390.28810.29781.78%5.20%587.024M DOGE
During0.29790.31680.29560.30592.62%6.69%752.977M DOGE
 
2 Hours
Before0.30010.30390.28620.2978-0.77%5.82%1.251B DOGE
During0.29790.31680.29560.29950.53%6.69%1.18B DOGE
 
4 Hours
Before0.30910.31140.28620.2978-3.79%8.09%2.875B DOGE
During0.29790.32410.29560.31415.16%8.79%2.409B DOGE
 
6 Hours
Before0.29170.33450.28240.29782.05%15.58%6.947B DOGE
During0.29790.340.29560.31595.70%13.06%4.314B DOGE
 
8 Hours
Before0.23860.33610.23240.30922.78%30.85%8.088B DOGE
During0.30910.32410.28620.31411.59%11.69%5.284B DOGE
 
12 Hours
Before0.23860.33610.23240.297819.88%30.85%10.964B DOGE
During0.29790.340.290.30171.26%14.71%6.467B DOGE

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