Weekly Shibanalysis. March 13-20, 2022

Morning, Shibanauts, Shibsters and other various Shib-nuts! As this week got one foot six feet under (and the other foot’s coming right in,) it’s time we all plop down on a cushy sofa and take a gander at Shib’s performance over these past 7 days.

We’ll stay focused on only the stuff that matters the most to an everyday,average holder. Keep in mind that Spaceshib isn’t a fortune teller: we’re commenting on the situation, not giving you a dopamine shot by predicting Day X.

So how we doin’?

Market Cap

In other words, that’s the worth of all the Shib tokens currently going around. This week saw Shib’s Market Cap skyrocket to just short of $14 billion! Felt good while it lasted (less than a solid 24 hours,) until the latest slump in the token’s price took the market cap down a notch or two - shedding half a billion in a blink of an eye. As of Sunday (20th of March) the market cap has been adding and shedding hundreds of millions of dollars at a time and generally hovering above (and occasionally slipping beneath) $13.5 billion.

On the whole, Shib’s been knocked back to being the 15th largest crypto by market cap, just two steps behind its gravest rival - Dogecoin.

It’ll catch up. Just watch.

Holders

These are the people who’re actively holding Shiba Inu and they are many - currently some 1,155,083 active addresses ‘hodling.’ 

Of that number, some 100 addresses are currently pocketing about a quarter of Shib’s supply. Jealous? Don’t be. Try as they may, those whales will never come even close to the top 1 address that’s holding 42% of all the tokens at the time of writing. It’s a good thing the “dead wallet” isn’t an actual person; the damage it could do to us little tarts just boasting its 42% on social media...

Price

Ah, yes, the guest of honor in every market analysis! 

Shiba Inu has seen some wild swings over the last 7 days. Kicking this week off at $0.000022, the token continued to waffle about just beneath $0.000023 until Saturday has seen the price shoot up all the way to $0.000025. That ought to have put some smiles on the holders’ faces, if only for a short time. The price then went on to wipe off a big chunk of the gains by way of a dramatically painful slump to a low of $0.00002288.

You sure that Bogdanoff Pump it/Dump it guy isn't real?

Tokens burned

Shib has been absolutely on fire this week. Literally speaking. Over the past 7 days, upwards of 1.2 billion tokens were burned, never to be seen again, with the largest weekly burn accounting for roughly a half of the total amount burned - 595 million tokens, worth $13,726 at the time of burning.

That’s some good shib,right?! No pun intended.

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