Coins
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Shibaverse
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2022-10-01

September 25 - October 1 market wrap: Shibaverse had a slight 1% drop.

Between September 25 - October 1, Shibaverse has been mostly bearish as its price has been in the falling mode. The situation on the VERSE market shows that the underlying asset is currently experiencing a period of medium volatility. The market capitalization of the asset has been increasing in concert with the price of the coin. The price action of the crypto coin last week took place on the back of increased trading volume.

The volatility has been suppressed, as the Shibaverse price action suggests. We established that VERSE didn't showcase any significant price action due to the market's mild average volatility of 7%. The coin was the most volatile on September 25, when the range of its price fluctuations reached 10.08%. On September 29, the volatility of the asset was at its minimum at 1.84%. 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.

While the overall situation on the Shibaverse market was bearish, the trading session on September 25 kicked off at the $0.004 price level. The losses of VERSE after the weekly open on September 25 amounted to 10%. The price action of the coin remained bearish on September 26 as the bears pushed the price down by 3%. The bears dominated the price action during the following trading period as the price drifted 2% to the downside, having established the low for the reviewed time frame at $0.0033, while the high was recorded at $0.0035. The VERSE market was up as the price shifted by 4% on September 28, against the backdrop of the sufficient trading volume. Shibaverse finalized the trading day of September 29 at $0.003 after opening it at $0.003, though the price broke through that corridor to hit the 24H high at $0.0035 and the 24H low at $0.0033. The price action on September 30 saw the crypto coin moving along the following route: starting point at $0.003 and closing point at $0.004, while it also deviated to establish the high of the day at $0.0036 and the low of the day at $0.0033. Most trading activity on October 1 occurred in the space between $0.004 and $0.003; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.0034, though the bulls had also staged the rally to the 24H high at $0.0036. The highest point of the price action over the week was at $0.0039 - the weekly low during the same period was established at $0.003. As a result of price action within the designated time period, the price movement range on the Shibaverse market was established at $0.00005 or 1% between the weekly low and the weekly high.

Over the period of the last 7 days, September 25 to October 1, Shibaverse saw its average trading volume fluctuate between $54 104 and $15 619. Over the week that came before the analyzed time span, the average trading volume of VERSE ranged between $7 332 and $32 596. The 2776% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 1%.

The total capitalization of Bitcoin at the start of the analyzed time period (September 25) amounted to $2 689 552; by the end of that period (October 1), the capitalization went to $2 838 133. When translated to percentage rate, the market capitalization of VERSE over the past week adjusted by 6%. When compared to the price fluctuations during the observed period of time, the 6% market capitalization movement was accompanied by a 1% change in the price of the coin. In the preceding week, September 18 - September 24, the market capitalization of Shibaverse got a 18% adjustment ($3 776 858 to $3 110 689) in comparison to a 6% change last week; this allows getting a deeper insight into the market structure.

Price
Volatility
Capitalization
Volume
Sep 25Tue 27Thu 29OctoberSep 25Tue 27Thu 29October0.003300.003350.003400.003450.003500.003550.003300.003350.003400.003450.003500.00355
Article date: October 1 | September 25 - October 1

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