The capitulation of September 22 - September 28 : Shibaverse experienced a 11% dive.

The price of Shibaverse was falling last from September 22 until September 28, giving enough reason to conclude that the market is bearish. The price swings of VERSE pointed to the presence of medium volatility. The asset saw its market capitalization falling over the reviewed period together with its price. 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. The market analysis reveals that the mild average volatility of 7% restrained VERSE 's price swings. The highest point of the coin's volatility reached 10.08% in the analyzed time frame. 1.84% was the rock bottom for the asset's volatility that was reached on September 26. The crypto coin's market didn't put up any surprises due to mild average volatility of 7%.

Shibaverse began the day on September 22 at $0.004, while the broad background was bearish. The losses of VERSE after the weekly open on September 22 amounted to 1%. September 23 saw the coin going another 5% since the open, supported by the corresponding trading volume. During the next trading day, the rate of change in the price of Shibaverse stood at 2% having reached the low at $0.0038 and the high at $0.004 as the advantage remained on the side of buyers. VERSE ’s performance during September 25 was the following: the price declined by 10% in conjunction with the acceptable trading volume. The price range of Shibaverse on September 26 formed between $0.003 and $0.003, whereas the daily price extremities were $0.0033 and $0.0035. The activity on the crypto coin's market on September 27 resulted in the asset being traded between $0.003, the open of the day, and $0.003, the close of the day; at some point, the price spiked to the daily high at $0.0035 and briefly dropped to the daily low at $0.0033. As for the occurrences on September 28, the price of the coin bottomed at $0.003 and peaked at $0.0034, while its daily range formed between $0.003 and $0.003. 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 shaped the $0.0004 price range over the week of price action, which constituted the 11% gap between the weekly low and the weekly high.

In the period September 22 - September 28, the trading volume of Shibaverse went from $7 332 on the first day of the reviewed period to $7 628 on the closing day. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the VERSE market had its volume ranging between $10 928 and $33 479. The 32% trading volume fluctuation between September 22 and September 28, as compared with the previous period, served as a basis for a 11% price move.

The total capitalization of Bitcoin at the start of the analyzed time period (September 22) amounted to $3 049 816; by the end of that period (September 28), the capitalization went to $2 702 011. Percentage-wise, the market capitalization of VERSE has shifted by 11% in the past week. When compared to the price fluctuations during the observed period of time, the 11% market capitalization movement was accompanied by a 11% change in the price of the coin. 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 18% as it went from $4 055 068 to $3 049 816.

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Article date: September 28 | September 22 - 28

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