Reservedly bullish : the price of Shibaverse grew by 9% in the period of August 25 - August 31.
The analysis of last week’s price action shows that the Shibaverse market is in the phase since the price has been moving upward. VERSE has been going through a period of medium volatility, which fell in line with the occurred price changes. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
Shibaverse has been moving reservedly on the backdrop of average volatility. Given that the average volatility on the VERSE market didn't exceed 13%, the price action remained limited. The most significant volatility occurred on August 25 and reached 16.35%. 0.73% was the rock bottom for the asset's volatility that was reached on August 29. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.
The price of VERSE took a 6% down downswing at the open of the weekly trading period. The market sentiment on August 26 stayed as the coin obtained another 4%. The price range of Shibaverse formed between $0.003 and $0.003 on August 27 as the price traveled 6% down. The trading volume on August 28 rendered support to the 1% bearish move of VERSE. Shibaverse finalized the trading day of August 29 at $0.003 after opening it at $0.003, though the price broke through that corridor to hit the 24H high at $0.003 and the 24H low at $0.003. While the 24H high and low on August 30 were at $0.0037 and $0.0033, respectively, the crypto coin had been traded in the area between the open at $0.004 and the close at $0.003. Between the 24H high at $0.0035 and the 24H low at $0.0031, the coin was traded in the $0.003 - $0.004 price corridor. During the reviewed time period, the asset was able to achieve the weekly high at $0.004, though at a certain point, the bear pressurized the price down to the weekly low at $0.003. The difference between the lowest and the highest price points for the week was 9%, as the price moved in the $0.0003 wide corridor.
The trading activity on the Shibaverse market over the past week - August 25 to August 31 - generated the average trading volume that went from $5 065 to $36 932. We can draw the comparison with the period of 7 days that preceded the reviewed one when VERSE ’s trading volume varied from $8 567 to $30 117. The average trading volume of the asset fluctuated by 10% by comparison with the previous period, whereas the price change of 9% took place over the same period of time.
The change in the total market capitalization of Shibaverse from August 25 to August 31 was as follows: on August 25, the capitalization was at $2 745 957, while on August 31, it reached the level of $2 530 353. Percentage-wise, the market capitalization of VERSE has shifted by 8% in the past week. The 8% change in the coin's market capitalization affected the price rate that saw a 9% shift in the same time period. During the week before the analyzed time frame, the market capitalization of Shibaverse moved by 6% as it went from $3 058 898 to $2 876 380, and gave a better understanding of the general direction in which this market is flowing.