Weekly Shibanalysis. April 16-23, 2022

Hey, Shibsters! It’s analyzing time! We’re going to analyze the living shib out of Shiba Inu’s performance this past week. You, on the other hand, are most welcome to watch us do it with popcorn, soda and stuff.

Disclaimer! Due to the recently effective policies, the editorial staff at Spaceshib has been reminded to remind our readers that it’s a weekly digest, not a financial advice on how to become a googlionaire trading Shib. Or, as our editor-in-chief likes to put it, “We don’t do no crystal gazing kinda stuff here”.

You’ve been reminded.

Alright then. So how we doin’?

Price

Shib’s price was dragged all over the charts over the course of the week. Literally speaking. 

Sunday through Monday, the token’s constant struggle with forces unknown over breaking above the $0.000026 barrier - and ultimately tumbling back down to the lower reaches of $0.000024 the following Tuesday - could be best described as “aww, here we go again”.

After a brief period during which fainting raged across the entire Shib community, the token was able to muster some strength for another round - ultimately ending up just above the $0.000025 line, if only for a heart beat. Come Thursday (April 21st) Shiba Inu took another dive, again hitting the bottom at $0.000024 and still remaining at its mercy at the time of writing this on April 23rd.

Feeling down? Spaceshib also has a team of wonderful shrinks, ready to talk anyone back into high spirits - call us now!

Market Cap

Would you be surprised if we told you that seeing as Shib’s price had a rough patch lately, so did its market cap?

Well, let us say it out loud. Shib’s had a rough patch, what with the price having slipped past $0.000025, and so did its market cap, which currently stands at around 13,4 billion (USD). That said, the token is right back holding the 15th position on the list of crypto by market capitalization.

The bitter rival of Shiba Inu - Dogecoin - on the other hand, can boast around $18 billion in market cap and two positions up the list.

Your days are numbered, Doge!

HoDlers

The truth of the matter is that there are currently 1,135,889 active addresses holding Shiba Inu. That’s a 4K boost to the amount of “HoDlers” from where it was last week. Or, an average of 571 and a half new hodlers gained every day over the course of 7 days!

Whether these people are the same ones that jumped the ship during the last big slump in the amount of active addresses, or totally “new blood” remains unknown. But don’t worry, our espionage department is getting to the bottom of it even as you read this.

Just keep it hush-hush, will you? Otherwise we might get sued.

Burned tokens

Oh, how we all love the smell of burned Shiba Inu! Speaking of which, between April 16 and April 23, roughly 452 million tokens have been sent to the crypto black hole, or “have been blackholed” as we prefer to call it. Keep in mind that we’re only counting the big burns, usually over 3 million tokens destroyed. So the true number may be a bit higher.

Compared to last week’s 700 million burned, that’s a 35.5% drop.

April 22nd was when the mightiest of the week’s burns occurred, wiping out around 200 million Shibs, or about $4,868,64! Thank you for burning that money - you just laid waste to the 3,2 minutes it took the money-printing machine to make that money in the first place.

Another burn that had us all stopped in our tracks took place earlier today (April 23rd), and which made a $0 burn. That’s right, according to Etherscan, someone sent 0 Shib to another wallet, while having to pay $2.55 in transaction fees.

Did someone really pay $2.55 to have $0 transferred?

And that’s the weekly closure for Shiba Inu. We’ll keep a sharp eye out on the token’s progress. In the meantime, make sure to smash down on that Like button. Thanks!

Keep your gaze on the stars,

Spaceshib team