The Shiba Inu (SHIB) market and the rest of the cryptocurrency community have been eagerly waiting for the meme coin to hit 1 cent. But reaching this peak seems nearly impossible given its current price levels. Amidst this, the community is yearning for burns of higher magnitudes. Despite being started as a joke, SHIB’s rising utility has always put the network under the spotlight. This could further act as a catalyst for the asset’s price growth in the long term. The second-largest meme coin started the month on a slow note. But the asset could witness a rise over the next few months.
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Shiba Inu Slides Down
The popular meme coin recorded a major downfall since the beginning of the month. SHIB fell to a low of $0.00001954 following a 12% drop. During the time of writing, Shiba Inu was trading at $0.00002035. This came after the asset recorded a slight surge of 2.18% over the past 24 hours.
Currently, SHIB is 77% below its all-time high of $0.00008845. Shiba Inu attained this high back in the year 2021. While the 1-cent mark is far from reach, the community is hoping to see the asset delete a zero.
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Q1 Price Prediction
According to data from CoinCodex, this quarter is expected to be quite moderate for the cryptocurrency. Shiba Inu is slated to end January on a great note as it is expected to trade at a high of $0.00004366. This marks a staggering 113% rise from its current price chart. Sadly, this uptrend will be cut short. In the last two months of the quarter, which are February and March, SHIB will trade at a maximum price of $0.00002001 and $0.00001988, respectively.
While this isn’t a very bullish prediction, the community hopes to record better gains over the next few quarters of the year.
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