The Shiba Inu (SHIB) ecosystem was finally seen recovering as the weekend approached. Following a rough week, the meme coin was seen picking up pace. Over the past seven days, SHIB recorded a drop of nearly 5%. The second-largest meme coin’s monthly losses stood at a staggering 23%. While this may be extremely bearish for SHIB investors, the community is hoping to see SHIB close February on a bullish note.
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Looking Into The Shiba Inu Market
Over the past 24 hours, the meme coin recorded a rise of nearly 2%. At the time of writing, SHIB was trading at $0.00001572. Along with its price, the asset’s market cap and trading volume also witnessed an uptick. The market cap of Shiba Inu currently stands at $9.27 billion. In addition, the daily trading volume of the meme coin rose by nearly 10% and is at $174.5 million.
The latest downfall put a majority of SHIB investors at a loss. According to data from IntoTheBlock, 54% of Shiba Inu holders were drowning in losses. This did not mean that the meme coin wasn’t profitable. About 43% of the asset’s holders were making money at SHIB’s current price.
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Feb-End Price Prediction
It is certain that Shiba Inu will be breaking free from its bearish momentum. During the final days of the month, SHIB is expected to witness a double-digit uptick. Data from CoinCodex revealed that the second-largest meme coin would surge by a staggering 60% and hit a high of $0.00002549 on February 27. On the last day of the month, SHIB will trade at $0.00002438. This surge is much needed for the market and is could bring in notable gains for its holders.
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