Shiba Inu (SHIB) is currently outperforming the likes of Bitcoin (BTC) and Ripple’s XRP in the daily charts. SHIB has rallied by 4.1% in the last 24 hours. BTC, on the other hand, has fallen 3.5%, and XRP has rallied 1.5% in the same time frame.
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Shiba Inu Continues To Fumble
Despite outperforming BTC and XRP in the daily charts, SHIB has faced quite a price dip in the last few days. The asset is down 6% in the weekly charts, 8.1% in the 14-day charts, and 23.4% over the previous month. The dog-themed crypto has maintained some gains in the yearly charts, rallying 48.4% since February 2024.
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The latest market dip is likely due to the US reimposing tariffs on Canada and Mexico. The Bybit hack has likely further pushed the correction. Investor sentiment has taken a massive hit over the last few days. SHIB and other risky assets have faced substantial outflows due to the decline in market optimism.
Can The Asset Hit $0.000025 Soon?
SHIB last traded above the $0.000025 mark in December 2024. SHIB has to rally by about 76% to hit the $0.000025 target.
According to Changelly analysts, SHIB could hit the $0.000025 mark in March. The platform anticipates the asset to trade at a maximum price of $0.0000298 next month. Despite the predicted rally, Changelly does not expect SHIB’s price to hold at $0.0000298. The platform predicts SHIB will face a substantial correction right after. Changelly analysts anticipate the dog-themed crypto to breach the $0.000025 mark once again in November of this year.
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If the market maintains its recovery, SHIB could hold the $0.000025 price level. How the asset performs over the coming weeks is yet to be seen.
