The bulls muster more strength as Shibaverse rises by 177% from August 28 to September 3.

The analysis of last week’s price action shows that the Shibaverse market is in the bullish phase since the price has been moving upward. The situation on the VERSE 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 increased market capitalization of the said digital asset. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.

The considerable chops and changes in the price of Shibaverse resulted in average volatility of 59.51%. The volatility of the asset has reached the extreme after going as high as 59.51% - it happened on August 28. The lowest volatility for the given period was spotted on September 3 and reached 0.73%. The present volatility of 59.51% renders the VERSE market unstable with the possibility of violent price swings.

On August 28, the Shibaverse market opened at $0.003, preceded by a period of bullish action. During the opening day on August 28, VERSE has had a 1% move to the downside. The 17% move in the upward direction took place on the second day after the weekly open. The price range of Shibaverse formed between $0.0033 and $0.0037 on August 30 as the price traveled 6% down. The trading volume on August 31 rendered support to the 13% bullish move of VERSE. The price range of Shibaverse on September 1 formed between $0.004 and $0.006, whereas the daily price extremities were $0.004 and $0.006. The activity on the crypto coin's market on September 2 resulted in the asset being traded between $0.006, the open of the day, and $0.006, the close of the day; at some point, the price spiked to the daily high at $0.01 and briefly dropped to the daily low at $0.006. Most trading activity on September 3 occurred in the space between $0.006 and $0.008; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.006, though the bulls had also staged the rally to the 24H high at $0.009. During the reviewed time period, the asset was able to achieve the weekly high at $0.01, though at a certain point, the bear pressurized the price down to the weekly low at $0.003. Shibaverse shaped the $0.005 price range over the week of price action, which constituted the 177% gap between the weekly low and the weekly high.

Over the period of the last 7 days, August 28 to September 3, Shibaverse saw its average trading volume fluctuate between $5 742 and $1 529 630. We can draw the comparison with the period of 7 days that preceded the reviewed one when VERSE ’s trading volume varied from $5 065 to $28 841. The 1853% trading volume fluctuation between August 28 and September 3, as compared with the previous period, served as a basis for a 177% price move.

Shibaverse had its total market capitalization change from $2 377 638 on August 28 to $6 444 786 on September 3, the end of the examined time frame. Percentage-wise, the market capitalization of VERSE has shifted by 171% in the past week. As a consequence of the 171% fluctuation in its market capitalization, the price of the coin changed by 177%. A better understanding of the lay of the land on the Shibaverse market requires a comparison with the preceding week when the total market capitalization of Shibaverse changed by 7% as it went from $2 233 315 to $2 377 638.

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Article date: September 3 | August 28 - September 3

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