The market crumbled last week (September 20 - September 26) as Shibaverse lost 20%.
The price of Shibaverse was falling last from September 20 until September 26, giving enough reason to conclude that the market is. The price swings of VERSE pointed to the presence of medium volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
Shibaverse has been moving reservedly on the backdrop of average volatility. Given that the average volatility on the VERSE market didn't exceed 7%, the price action remained limited. The coin has hit the highest point of volatility on September 20. 0.82% was the rock bottom for the asset's volatility that was reached on September 24. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.
The price of VERSE took a 1% down downswing at the open of the weekly trading period. September 21 saw the coin going another 4% since the open, supported by the corresponding trading volume. The price range of Shibaverse formed between $0.0037 and $0.004 on September 22 as the price traveled 1% down. The next trading session was characterized by more price action (as VERSE made a 5% move) on the back of the consistent trading volume. The price range of Shibaverse on September 24 formed between $0.004 and $0.004, whereas the daily price extremities were $0.0038 and $0.004. The price action on September 25 saw the crypto coin moving along the following route: starting point at $0.004 and closing point at $0.003, while it also deviated to establish the high of the day at $0.0039 and the low of the day at $0.0034. On the last day of the reviewed period, the coin was locked between $0.003 and $0.003, though the price managed to puncture these levels to reach the 24H high at $0.0035 and the 24H low at $0.0033. The highest point of the price action over the week was at $0.004 - the weekly low during the same period was established at $0.003. Shibaverse bounced 20% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.0008.
In the period September 20 - September 26, the trading volume of Shibaverse went from $26 789 on the first day of the reviewed period to $13 806 on the closing day. During the week before September 20, the trading volume of VERSE flowed from $12 684 to $144 141. Percentage-wise, the trading volume of the asset changed by 61%, in comparison to the previous period, while its price experienced a 20% adjustment.
The total capitalization of Bitcoin at the start of the analyzed time period (September 20) amounted to $3 503 564; by the end of that period (September 26), the capitalization went to $2 771 703. Percentage-wise, the market capitalization of VERSE has shifted by 21% in the past week. The 21% change in the coin's market capitalization affected the price rate that saw a 20% shift in the same time period. The comparison with the Shibaverse market capitalization seen during the time period September 13 - September 19 that occurred before the observed one, which changed by 21%, from $4 149 277 to $3 287 610, allows us to get a clearer understanding of current market conditions.