The cryptocurrency market is bouncing back, with Bitcoin (BTC) hitting the $48k mark. BTC is almost on the verge of reclaiming its post-spot BTC ETF (Exchange Traded Fund) approval level. While BTC is almost at a new high, Shiba Inu (SHIB) struggles to delete a zero from its price.
SHIB is up 4.3% in the weekly charts and 2.8% in the 14-day charts. However, the popular memecoin is down by 1.3% in the daily charts and 3.5% over the previous month. Moreover, the asset is down by over 27% since February 2023.
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The general crypto market uptrend is likely due to BTC’s rally. BTC’s latest upswing could be due to BTC miners holding on to their reserves. Miners had begun to sell their holdings last month, triggering a market sell-off.
Can Shiba Inu (SHIB) delete a zero this week?
According to CoinCodex, SHIB’s price may fall later this week. The platform anticipates SHIB to hit $0.000008780 on Feb. 17, 2024, a drop of about 5.86% from current levels. However, CoinCodex predicts SHIB will delete a zero by Feb. 19, hitting $0.00001013, a rise of around 8.6% from current levels.
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Changelly also anticipates Shiba Inu’s (SHIB) price to head down before going up. The platform anticipates SHIB to hit $0.000008776 on Feb. 15, 2024, a drop of almost 6% from current levels. However, Changelly also predicts SHIB will delete a zero this week, hitting $0.00001013 on Feb. 17, 2024, a rise of around 8.6% from current price levels.
Moreover, Telegaon anticipates Shiba Inu (SHIB) to hit a maximum price of $0.0000571 this year. However, the platform does not clarify when SHIB may hit this target. Reaching $0.0000571 from current prices would translate to a growth of over 500%.