Shibaverse market outlook from August 27 - September 2 :the price surges by 124%.

The upward movement of the Shibaverse price last week indicates the chosen market is bullish. The volatility associated with the VERSE market was high, as were its price fluctuations. The price action on the coin's market translated to the growth of market capitalization. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.

According to our calculations, Shibaverse experiences larger than usual price fluctuations, which translates to the average volatility percentage of 59.51% during the period under review. The volatility of the asset has reached the extreme after going as high as 59.51% - it happened on August 27. The quietest period on the coin's market happened on September 2 as the volatility failed to surpass the 0.73% mark. 59.51% is too high a volatility for the VERSE market to be considered stable and easily predictable.

The trading session on August 27 started with Shibaverse opening at $0.003 on the backdrop of bullish sentiment throughout the market. The first day of price action was marked by the 6% move to the downside from the point where the trading session opened. On August 28, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. Shibaverse posted the interim low at $0.003 on August 29 and then moved up by 17% and peaked at $0.003. The trading volume on August 30 rendered support to the 6% bearish move of VERSE. The developments on the Shibaverse market on August 31 started with the price opening at $0.003 and subsequently moving to $0.004, the close of the day, while dropping to the 24H low at $0.0031 and spiking to the 24H high at $0.0031. The crypto coin opened the trading session on September 1 at $0.004 and finalized it at $0.006; the highest point of price action was at $0.006, the lowest was detected at $0.004. On the last day of the reviewed period, the coin was locked between $0.006 and $0.006, though the price managed to puncture these levels to reach the 24H high at $0.01 and the 24H low at $0.006. The asset posted the weekly low at $0.003, while the top of the weekly trading session was registered at $0.01. Traders saw Shibaverse covering the $0.004 distance between the weekly low and the weekly high, which constituted for a 124% move.

The past 7 days were marked by a change in average daily trading volume from $16 794 on August 27 to $408 581 on September 2. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the VERSE market had its volume ranging between $5 065 and $30 117. The 362% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 124%.

The change in the total market capitalization of Shibaverse from August 27 to September 2 was as follows: on August 27, the capitalization was at $2 392 682, while on September 2, it reached the level of $5 384 625. The rate of percentage change for the last week for VERSE was 125%. When compared to the price fluctuations during the observed period of time, the 125% market capitalization movement was accompanied by a 124% change in the price of the coin. The comparison with the Shibaverse market capitalization seen during the time period August 20 - August 26 that occurred before the observed one, which changed by 0%, from $2 550 047 to $2 538 511, allows us to get a clearer understanding of current market conditions.

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Article date: September 2 | August 27 - September 2

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