The Shiba Inu (SHIB) market managed to get through a challenging month of March. The second-largest meme coin recorded a 7% downfall throughout the past month. This was sadly, the case with most cryptocurrencies in the market. March turned out to be extremely rocky for the market. While the asset has kickstarted April on a great note, the community is hoping that SHIB continues this trend and records a new yearly peak.
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Shiba Inu Starts April With A Bang
Over the past 24 hours, Shiba Inu managed to surge by nearly 4%. The asset went from trading at a low of $0.000012 to $0.00001278. At the time of writing, the meme coin was trading at $0.00001271. Even though March was a difficult month for SHIB, it managed to rise to a high of $0.00001561. Since SHIB began April on a good note, the market is expecting to see the mme coin soar higher.
The SHIB market has been extensively focusing on burns. Sending a large number of tokens into dead wallets is expected to boost the price of the meme coin. While the network has been building the asset’s utility, reducing the circulating supply of SHIB will also aid in the swift growth of its price.
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April Price Prediction
The month of April is expected to be a bullish month for the meme coin. Shiba Inu was even seen outshining the OG meme cryptocurrency, Dogecoin (DOGE), in terms of daily price change. According to data from CoinCodex, the asset will record a massive surge of 63% later this week. On April 4, SHIB will be priced at a high of $0.00002069. This trend will follow the next day as well. The firm revealed that the meme coin will trade at a high of $0.00002045 on April 5.
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