Shibaverse exploded by 156% in the period of August 29 - September 4 as the buyers got an upper hand.
Between August 29 - September 4, Shibaverse has been mostly bullish as its price has been in the rising mode. The price swings of VERSE pointed to the presence of high volatility. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
Due to the active price action, the average volatility of Shibaverse jumped to 59.51%. The peak of the asset's volatility fell on August 29 after it went all the way to 59.51%. On September 4, the coin's volatility was at its minimum level of 1.38%. The increased volatility of 59.51% on the VERSE market suggests large price swings in either direction, which is indicative of market instability.
During the opening day on August 29, VERSE has had a 17% move to the upside. The price action of the coin remained on August 30 as the pushed the price down by 6%. During the next trading day, the rate of change in the price of Shibaverse stood at 13% having reached the low at $0.0031 and the high at $0.0035 as the advantage remained on the side of buyers. VERSE ’s performance during September 1 was the following: the price increased by 56% in conjunction with the acceptable trading volume. The price oscillation of Shibaverse on September 2 was in the $0.006 - $0.006 range; at the same time, the price stretched out to reach the 24H low at $0.006 and the 24H high at $0.01. While the 24H high and low on September 3 were at $0.009 and $0.006, respectively, the crypto coin had been traded in the area between the open at $0.006 and the close at $0.008. On the last day of the reviewed period, the coin was locked between $0.008 and $0.009, though the price managed to puncture these levels to reach the 24H high at $0.009 and the 24H low at $0.008. The highest point of the price action over the week was at $0.01 - the weekly low during the same period was established at $0.003. Shibaverse shaped the $0.005 price range over the week of price action, which constituted the 156% gap between the weekly low and the weekly high.
The trading activity on the Shibaverse market over the past week - August 29 to September 4 - generated the average trading volume that went from $6 556 to $208 279. Over the week that came before the analyzed time span, the average trading volume of VERSE ranged between $5 065 and $20 687. The 2646% trading volume fluctuation between August 29 and September 4, as compared with the previous period, served as a basis for a 156% price move.
The change in the total market capitalization of Shibaverse from August 29 to September 4 was as follows: on August 29, the capitalization was at $2 244 550, while on September 4, it reached the level of $6 299 524. The rate of percentage change for the last week for VERSE was 181%. The price of the coin changed by 156% on the back of the 181% shift in its total market capitalization. The comparison with the Shibaverse market capitalization seen during the time period August 22 - August 28 that occurred before the observed one, which changed by 5%, from $2 494 850 to $2 377 638, allows us to get a clearer understanding of current market conditions.