Weekly Shibanalysis, May 8-14, 2022

Howdy! Thanks for coming by for our weekly Shibanalysis! It’s not like you had a choice, anyway…

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.

Got it? Good! Then let's see how Shiba Inu performed this week.

Price

SHIB had seen its price decimated, pillaged and razed, to say the least, over the course of the past week. Much like any other crypto token out there, the losses were immense. Except maybe Luna. In that case, the losses were gimense.

Sunday (May 8) took SHIB’s price to sub $0.000020 levels, bottoming out at $0.00001838 per coin. Come Monday, the price didn’t feel like saving the community a million heart attacks and continued its plunge,  this time shedding another 23% in value and falling to the day’s low at $0.000014787!

Tuesday through Wednesday saw SHIB’s attempts to recover, at times rising back above $0.000017, only to exhaust the bulls and eventually send the token’s value tumbling all the way down to the week’s low - $0.00009145 on Thursday, May 12.

The overall losses in value are thus over 50%. Now, that’s something truly horrible. Then again, you don’t know what the loss is, unless you’ve been holding Luna.

As of Saturday, May 14, SHIB has managed to stabilize and somewhat recover, however the price is still stuck bouncing around the $0.000011- $0.000014 zone.

Market Cap

Presently, it’s trapped below $7 billion; mostly occupying the range between $6,2-6,6 billion, depending on the price at a specific moment. That’s 15.31% down in the last 24 hours. Good news is, SHIB hadn’t been forced to step down from its #15 position on the list of crypto by Market Cap.

#15 is for winners, everything else is for losers.

HoDlers

If SHIB was printed on paper like USD, the reverse could proudly say, “In SHIB we trust and we’re 1,157,423!”

Compared to last week, that represents an increase in around 10K new active addresses.

That’s a welcome sight, considering the token’s price has been down this week. Although, not entirely an unexpected one. As the price took a dive, more people began to consider buying while the moment lasted. Could be the new holders that stopped SHIB from ultimately crashing to even lower reaches, as their buying kept the supply from blowing out of proportion.

After all, like the advice says “buy when it’s low, sell when it’s high!”

Burned tokens

Nothing like reading about people burning tons of money that could’ve otherwise solved global warming, or hunger, or other calamities that have been plaguing the planet, right?

We feel you!

Anyway, last week there were roughly 2 billion SHIB set on fire and kissed goodbye! Or putting it in terms of one day, that’s around 286 million tokens burned daily. Not bad, though it certainly could’ve been a great deal more, considering the lower price of Shiba Inu recently.

The week’s finest is this burn, which burned 289,279,676 SHIB on May 12. Translating that into USD, that was $3,537 at the time. Forget it, you can’t solve global warming with that kind of money.

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