The bears had a field day between November 5 and November 11 as Shiba Inu got knocked down by 23%.
The downward movement of the Shiba Inu price last week indicates the chosen market is. SHIB was caught in a period of medium volatility, which was reflected in its price action. The asset saw its market capitalization falling over the reviewed period together with its price. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The volatility has been suppressed, as the Shiba Inu price action suggests. The average volatility of 15% was the reason why the price of SHIB didn't put up any significant gains. The largest volatility for the given period occurred on November 5 and amounted to 16.67%. The asset's volatility was at its lowest on November 9 when it dropped to 0%. The crypto coin's market didn't put up any surprises due to mild average volatility of 15%.
There were no gains or losses to the SHIB market on November 5, it remained flat. On November 6 the coin market stayed neutral, with no changes in the price. The cautious traders dominated the price action on November 7, with the Shiba Inu market remaining flat. Over the next trading period (on November 8), SHIB was moving down by 17% on the back of a congruous trading volume. The price oscillation of Shiba Inu on November 9 was in the $0.00001 - $0.000009 range; at the same time, the price stretched out to reach the 24H low at $0.000009 and the 24H high at $0.00001. No changes were observed on the crypto coin's market on November 10. The coin's market saw no changes on November 11, as the market flatlined. During the reviewed time period, the asset was able to achieve the weekly high at $0.00001, though at a certain point, the bear pressurized the price down to the weekly low at $0.000009. Shiba Inu shaped the $0.000003 price range over the week of price action, which constituted the 23% gap between the weekly low and the weekly high.
In the period November 5 - November 11, the trading volume of Shiba Inu went from $752 482 294 on the first day of the reviewed period to $583 339 628 on the closing day. We can draw the comparison with the period of 7 days that preceded the reviewed one when SHIB ’s trading volume varied from $377 726 510 to $2 470 705 970. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 49%, and the 23% price shift.
The past week saw the market capitalization of Shiba Inu making a shift from $7 378 975 653 on November 5 to $5 999 556 686 on November 11, the peak for the analyzed period. When translated to percentage rate, the market capitalization of SHIB over the past week adjusted by 19%. While the market capitalization of the coin was altered by 19%, its price has made a 23% change. A better understanding of the lay of the land on the Shiba Inu market requires a comparison with the preceding week when the total market capitalization of Shiba Inu changed by 1% as it went from $6 936 210 002 to $7 378 975 653.