The cryptocurrency community has been eagerly looking into the Shiba Inu (SHIB) ecosystem. The meme coin is undergoing increased volatility at the moment. But SHIB had a notable year in 2024. The asset recorded a 71% uptick during this time. As the team behind the asset continues to build and enhance its utility, the community is hoping to witness a rise in SHIB’s price. Despite the meme coin’s slow start to February 2025, can Shiba Inu record a rise?
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Diving Into The Shiba Inu Market
During the time of writing, SHIB was trading at $0.00001606. The asset recorded a 1.67% drop over the past 24 hours. But, it is worth knowing that the meme coin surged by nearly 12% throughout the past week.
Following its latest fall, Shiba Inu is 82% below its all-time high of $0.00008845. The meme coin claimed this peak back in 2021 during its initial stages. It should be noted that since its origin SHIB has surged by 19399619.19%.
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Looking into the current market of the meme coin, a majority of its holders were enduring a loss. According to data from IntoTheBlock, about 54% of the meme coin holders were under a loss. Meanwhile, 42% of them were making money at SHIB’s current price. A slight increase in price during the month of February could increase the percentage of holders in profit.
Is February a Bullish Month?
Data from CoinCodex highlights a positive scenario for Shiba Inu. According to market projections, Shiba Inu might increase by much to 16.09% in February, reaching an average price of $0.00001864 for the month. The expected range of price fluctuations is between $0.00001410 and $0.00003312. When compared to the present price, this trend may provide a potential return of 106.30%.
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