The September 4 - 10 market report: Shibaverse plunges by 32% as sellers apply more pressure.
Shibaverse has been last week as its price has been predominantly falling. The volatility of VERSE has been high throughout the reviewed period in correspondence with the price action. The asset saw its market capitalization falling over the reviewed period together with its price. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
According to our calculations, Shibaverse experiences larger than usual price fluctuations, which translates to the average volatility percentage of 25.11% during the period under review. The peak of the asset's volatility fell on September 4 after it went all the way to 25.11%. The coin saw its volatility drop to a minimum at 2.84% on September 10. The high volatility of 25.11% points to the possibility of unpredictable and violent price action.
The were dictating the terms on the Shibaverse market on September 4 - the trading session opened at $0.008. The first day of price action was marked by the 8% move to the upside from the point where the trading session opened. The 15% move in the downward direction took place on the second day after the weekly open. During the following trading period on September 6, the price of Shibaverse oscillated between the low at $0.005 and the high at $0.007, while the price moved down by 21%. The VERSE market was up as the price shifted by 5% on September 7, against the backdrop of the sufficient trading volume. The developments on the Shibaverse market on September 8 started with the price opening at $0.005 and subsequently moving to $0.005, the close of the day, while dropping to the 24H low at $0.005 and spiking to the 24H high at $0.005. The activity on the crypto coin's market on September 9 resulted in the asset being traded between $0.005, the open of the day, and $0.006, the close of the day; at some point, the price spiked to the daily high at $0.006 and briefly dropped to the daily low at $0.0051. September 10 presented us with the following price action data: the coin opened the period at $0.006 and went on to establish the low at $0.006 and the high of the day at $0.006 before closing the day at $0.006. The asset posted the weekly low at $0.005, while the top of the weekly trading session was registered at $0.009. Shibaverse shaped the $0.003 price range over the week of price action, which constituted the 32% gap between the weekly low and the weekly high.
The trading activity on the Shibaverse market over the past week - September 4 to September 10 - generated the average trading volume that went from $208 279 to $112 004. In order to have a better grasp of the VERSE market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $5 742 to $1 529 630. The 46% trading volume fluctuation between September 4 and September 10, as compared with the previous period, served as a basis for a 32% price move.
The total market capitalization of Shibaverse during the past 7-day oscillated between $6 299 524, the starting point that was established on September 4, and $4 799 405 on September 10, the end date of the reviewed period. 24% was the calculated percentage change for the VERSE market over the past week. The 24% change in the coin's market capitalization affected the price rate that saw a 32% shift in the same time period. The comparison with the Shibaverse market capitalization seen during the time period August 28 - September 3 that occurred before the observed one, which changed by 171%, from $2 377 638 to $6 444 786, allows us to get a clearer understanding of current market conditions.