The bleeding market: Shibaverse loses 6% between September 16 and September 22 as the selling pressure grows.
The behavior of Shibaverse last week was characterized by the occurrence of downswings. VERSE has been going through a period of medium volatility, which fell in line with the occurred price changes. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin last week took place on the back of decreased trading volume.
Shibaverse has been moving reservedly on the backdrop of average volatility. We established that VERSE didn't showcase any significant price action due to the market's mild average volatility of 17%. The coin has hit the highest point of volatility on September 16. The asset has been the least volatile on September 20; at this time, the volatility stood at 0.82%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 17%.
While the overall situation on the Shibaverse market was neutral, the trading session on September 16 kicked off at the $0.005 price level. On September 16, the first trading session of the reviewed time period, the market participants saw VERSE moving down by 13%. The coin market was up by 15% on September 17, the second day of the reviewed time period. Shibaverse posted the interim low at $0.0041 on September 18 and then moved down by 13% and peaked at $0.0048. The next trading session was characterized by more price action (as VERSE made a 2% move) on the back of the consistent trading volume. The price range of Shibaverse on September 20 formed between $0.004 and $0.004, whereas the daily price extremities were $0.0041 and $0.0044. The price action on September 21 saw the crypto coin moving along the following route: starting point at $0.004 and closing point at $0.004, while it also deviated to establish the high of the day at $0.004 and the low of the day at $0.004. On the last day of the reviewed period, the coin was locked between $0.004 and $0.004, though the price managed to puncture these levels to reach the 24H high at $0.004 and the 24H low at $0.0037. During the reviewed time period, the asset was able to achieve the weekly high at $0.005, though at a certain point, the bear pressurized the price down to the weekly low at $0.004. The price action on the weekly time frame made Shibaverse within the 6% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.0003.
The trading activity on the Shibaverse market over the past week - September 16 to September 22 - generated the average trading volume that went from $31 456 to $7 332. 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 $12 684 to $144 141. The asset demonstrated an 68% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 6%.
The total market capitalization of Shibaverse during the past 7-day oscillated between $3 732 294, the starting point that was established on September 16, and $3 049 816 on September 22, the end date of the reviewed period. The percentage change in the total market capitalization of VERSE amounted to 18%. The 18% change in the coin's market capitalization affected the price rate that saw a 6% shift in the same time period. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $4 353 487 on September 9 and $4 055 068 on September 15, which translates to a 7% change.