Scrooge exploded by 468% in the period of May 19 - May 25 as the buyers got an upper hand.
The bearish behavior of Scrooge last week was characterized by the occurrence of upswings. The situation on the SCROOGE market shows that the underlying asset is currently experiencing a period of high volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The price action of the crypto coin last week took place on the back of decreased trading volume.
The volatility of Scrooge was at 102.23% on average, which caused noticeable price fluctuations. The peak of the asset's volatility fell on May 19 after it went all the way to 102.23%. The lowest volatility for the given period was spotted on May 25 and reached 1.27%. The high volatility of 102.23% points to the possibility of unpredictable and violent price action.
The opening price of Scrooge was at $0.000000003 on May 19, with sellers having a more visible presence on the market. The 9% move in the upward direction took place on the second day after the weekly open. The price range of Scrooge formed between $0.00000000002 and $0.00000000002 on May 21 as the price traveled 19% up. On May 23, SCROOGE market moved by 85% in the bullish direction in concert with the trading volume. The price range of Scrooge on May 23 formed between $0.00000000004 and $0.00000000005, whereas the daily price extremities were $0.000000000041 and $0.000000000047. The crypto coin opened the trading session on May 24 at $0.00000000005 and finalized it at $0.0000000001; the highest point of price action was at $0.0000000001, the lowest was detected at $0.00000000005. Between the 24H high at $0.000000000098 and the 24H low at $0.000000000096, the coin was traded in the $0.0000000001 - $0.0000000001 price corridor. Over the course of all trading sessions, the asset established the weekly low at $0.00000000001 while buyers managed to push the price up to the weekly high at $0.000000003. As a result of price action within the designated time period, the price movement range on the Scrooge market was established at $0.00000000008 or 468% between the weekly low and the weekly high.
The trading activity on the Scrooge market over the past week - May 19 to May 25 - generated the average trading volume that went from $805 to $2 199. We can draw the comparison with the period of 7 days that preceded the reviewed one when SCROOGE ’s trading volume varied from $948 to $6 740. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 83%, and the 468% price shift.
Bitcoin began the observed period May 19 - May 25, with the market capitalization of $1 046 917 and finalized it at the market capitalization level of $35 601. SCROOGE experienced a 97% change in total market capitalization throughout the past seven days. While the market capitalization of the coin was altered by 97%, its price has made a 468% change. Scrooge ’s market capitalization from the week before changed by 9%, as the result of fluctuation between $1 163 365 and $1 046 917, to give a clearer vision of the current state of the market.