The meme coin market was painted red throughout the month of February. The Shiba Inu (SHIB) market had a difficult time as it dropped by 28% during this time. The asset dipped from a high of $0.00001964 down to a low of $0.0000123. The meme coin has recorded more downfalls than upticks in February. But March could bring in new gains for Shiba Inu.
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How High Is The Shiba Inu Market Trading Right Now?
Over the past 24 hours, SHIB dropped by 10.51%. At the time of writing, the meme coin was trading at $0.00001320. It should be noted that the asset hit an all-time high of $0.00008845 back in 2021. Shiba Inu is currently 85% below this milestone.
Despite its current condition, the community seems positive about Shiba Inu witnessing an uptick. According to CoinMarketCap’s Community Sentiment, 88% of a total of 217.2K individuals were optimistic about the meme coin recording a surge in the coming days. Meanwhile only 12% of them were expecting the asset fall.
While this is a positive sign for the market, the community is placing big bets on SHIB’s rise in the coming month of March. But the real question is how high the asset will surge during this period.
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March 5 Price Prediction
The Shiba Inu community could be witnessing a massive rise in its price. According to data from CoinCodex, the meme coin is set to record a series of upticks over the next couple of days. The firm revealed that the asset will see a 116% rise and reach a high of $0.00002881 on March 4. On March 5, Shiba Inu is expected to be priced at $0.00002611. This marks a 97.52% rise from its current price levels.
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