DOGE Volatility Analysis for GDP Report, 24th November 2021

Data Analysis

The data released by Bureau of Economic Analysis for Gross Domestic Product Report on 24th November, 2021 has come in at an increase to 2.1% for 2021 3rd Quarter. Compared to the previous release for 2021 3rd Quarter at 2.0%, we can see that GDP growth is increasing 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 197.32M DOGE with prices swinging between 0.215700 and 0.221500, representing a swing of 2.62%. Subsequently, the trading volume increased considerably by 71% to 336.562M DOGE. Price action ranged from a low of 0.210600 to a high of 0.218500, a difference of 3.62%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 8.044M DOGE in trading volume was observed prior to the data release. Prices ranged between a low of 0.216600 to a high of 0.218200, a 0.73% change. Immediately following, trading volume increased by 14% to 9.186M DOGE. At this time, Dogecoin hit a low of 0.216500 with a high of 0.218500, a change of 0.92%.

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

0.225400

Close

0.218600

24h Change

-0.0068 (-3.11%)

24h High

0.226900

24h Low

0.210600

24h Volume

1.193B DOGE

US Gross Domestic Product Report

Bureau of Economic Analysis

24th November, 2021, 8:30AM Timezone: America/New York

Chart Data from Binance

Observations

Time Open High Low Close Change Amplitude Volume
 
1 Minute
Before0.21770.21790.21760.21790.09%0.14%383,864 DOGE
During0.21780.21810.21780.2180.09%0.14%476,513 DOGE
 
5 Minutes
Before0.2180.21820.21760.2179-0.05%0.27%2.13M DOGE
During0.21780.21850.21780.21810.14%0.32%2.671M DOGE
 
10 Minutes
Before0.21750.21820.21720.21790.18%0.46%4.354M DOGE
During0.21780.21850.21690.2169-0.41%0.73%6.225M DOGE
 
15 Minutes
Before0.21720.21820.21660.21790.32%0.73%8.044M DOGE
During0.21780.21850.21650.2166-0.55%0.92%9.186M DOGE
 
30 Minutes
Before0.21760.21820.21570.21790.14%1.15%25.08M DOGE
During0.21780.21850.21390.214-1.78%2.11%37.901M DOGE
 
1 Hour
Before0.21710.21850.21570.21790.37%1.28%40.527M DOGE
During0.21780.21850.21060.2131-2.21%3.62%153.31M DOGE
 
2 Hours
Before0.21880.21960.21570.2179-0.41%1.78%88.01M DOGE
During0.21780.21850.21060.2144-1.59%3.62%236.626M DOGE
 
4 Hours
Before0.22140.22150.21570.2179-1.61%2.62%197.32M DOGE
During0.21780.21850.21060.2146-1.49%3.62%336.562M DOGE
 
6 Hours
Before0.22140.22320.21570.2179-1.61%3.36%292.527M DOGE
During0.21780.21850.21060.2145-1.54%3.62%420.824M DOGE
 
8 Hours
Before0.22540.22690.21930.2215-1.76%3.35%362.78M DOGE
During0.22140.22150.21060.2146-3.17%4.92%533.882M DOGE
 
12 Hours
Before0.22540.22690.21570.2179-3.44%4.94%560.1M DOGE
During0.21780.21950.21060.21860.37%4.05%632.521M DOGE

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