Shiba Inu (SHIB) is struggling to gain momentum despite significant projects like Bitcoin (BTC) and Ethereum (ETH) hitting two-year highs. Although SHIB rallied by 6% in the monthly chart and 3.3% in the 14-day chart, the asset has failed to delete a zero from its price. The popular memecoin faces significant resistance at the $0.00001 level.
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According to CoinCodex, Shiba Inu (SHIB) could delete a zero by the end of this month, hitting $0.00001019 on Feb. 28, 2024. The price rise would translate to a growth of about 5.9% from current levels. However, CoinCodex does not anticipate prices to hold, predicting SHIB to regain a zero on Mar. 1, 2024, hitting $0.000009843. Moreover, the platform predicts SHIB to fall below $0.000009 on Mar. 9, 2024.
Changelly also anticipates Shiba Inu (SHIB) to delete a zero by the end of this month, hitting $0.00001020 on Feb. 27, 2024. However, the platform anticipates SHIB’s price to fall to $0.000009631 on Mar. 1, 2024.
How high will Shiba Inu (SHIB) go in March 2024?
According to Changelly, SHIB could reach a high of $0.00001044 on Mar. 25, 2024. Moreover, the platform anticipates the memecoin to hit a maximum price of $0.0000159984 this year. Reaching this level would translate to a growth of about 66% from current levels.
Telegaon anticipates SHIB to hit a maximum price of $0.0000571 in 2024. However, the platform does not clarify when the asset could reach this level. Hitting $0.0000571 from current prices would translate to a growth of about 493%.
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However, Shiba Inu (SHIB) could witness a rally later this year if we enter a bull market. Many analysts anticipate the crypto market to rally, fuelled by Bitcoin’s (BTC) halving in April and the possibility of a spot Ethereum (ETH) ETF (Exchange Traded Fund).
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