Shiba Inu (SHIB) coin continues its volatile ride amid bearish sentiments in the broader crypto market. Historical data suggests a continued bear market in April.
Historical SHIB Price in April
The latest Shiba Inu price crash has captivated the market, causing speculation on what lies ahead in the new month. Cryptorank data indicates a bearish picture, showing an average monthly return of just 3.5% for SHIB in April. Shiba Inu coin has traded lower for the past three years in April. However, in April 2021, SHIB's price surged by 69.4%. Regardless of the outcome, the Shiba Inu price scenario stands out among top memecoins.
Current SHIB Overview and Ecosystem Trend
At the time of writing, Shiba Inu coin’s price was trading for $0.00001414, down by 3.4% in the past 24 hours. The daily trading volume decreased by 44% to $308.95 million, suggesting reduced investor activity. Shiba Inu also associated with several ecosystem developments that could trigger a potential rally. One of these factors is the Shiba Inu token-burning mechanism, which has sparked interest. More token burns reduce the SHIB supply and potentially increase its price when demand rises.
Shiba Inu Coin Price Prediction
So far, the price point has undergone numerous attempts but failed to maintain upward momentum. However, Shiba Inu is nearing a crucial resistance level, and a confirmed breakout could spark a sharp upward movement. Analysts predict a 20% price jump if Shiba Inu breaches the key barrier.
The uncertainty remains a part of Shiba Inu’s price dynamics. Traders and investors watch developments in April to gauge potential trend shifts.
