Weekly Shibanalysis, May 1-7, 2022

What is up my brothers and sisters! Why don’t y’all pull up a seat for a second and grace our weekly Shibanalysis with your attention. That’s not an offer, by the way.

Disclaimer! Spaceshib’s editors would like to kindly remind our readers that the info down below must not be considered financial advice of any sort, kind or flavor. It’s just a rundown of the token’s market processes. Don’t try to sue us for misleading you into any operations with your assets. We’ll sue you right back.

With that out of the way, let’s see how Shiba Inu performed this week.

Price

The never ending drama continues as the token took another huge plunge, this time below the $0.00002 line. The definition of the phrase “it’s gonna get worse before it gets better”.

Last Sunday (May 1) began with Shib quickly losing its grip on the price at $0.000021, and ultimately falling to the day’s lowest at $0.000020, before a quick recovery the same day. That, unfortunately, wasn’t meant to last.

Throughout the week that followed, it’s been a constant struggle to not lose any more ground, as the token was in a state of incessant tumble, now going back up to $0.000021, now retreating back below $0.00002.

The ride ultimately ended up with Shib landing at the week’s low at $0.00001969, on Friday, May 6. The battle for solidifying back above the bloody $0.00002 carries on even as we speak.

On the whole, the price has been in a state of downtrend over the course of the month, shedding around 17% in value.

Did we mention Spaceshib also has its own line of antidepressant drugs? Give us a holler.

Market Cap

Two words: $11 billion…

HoDlers

This stat can be best described as having been “stable-neutral.” Over the course of the past week, the amount of active addresses holding Shib did very little in the way of fluctuating.

Around 1,144,585 strong still remain within the ranks of the Shib Army at the time. Which is 10 thousand hodlers up, compared to a few weeks ago when Shib used to cost $0.000024!

This is actually a good sign that indicates the Shibsters are hanging tight, notwithstanding the rollercoasters of the price charts.

Now that’s one hell of a persistent bunch!

Burned tokens

“Burn me hard!” is what Shib never stopped saying ever since the token burns kicked off.

Now to the crux of the matter. Between the launch of the official burn portal and other independent burn efforts, there were a total of 5 billion tokens ‘blackholed’ in the last seven days alone!

Doesn’t add up with the fact the price has been acting up, though. However, we should all remember that, big as those numbers burned may seem in terms of the digits, they’re but a drop in the bucket, when compared to Shib’s supply - which remains colossally huge at present. But don’t worry, the burns may yet do their part in driving the price up.

The one burn that steals all the spotlights this week sent over a billion Shibs to crypto heaven in a single go. That happened on May 5th and was worth $19,980 at the time! Thank you, whomever you are, wherever you are.

May the crypto gods bless the ground you walk!

Looks like we can call it quits for this time. Remember to spread this sacred data with others! Until then,

Keep your gaze on the stars,

Spaceshib team