The meme coin market was yet again painted in red.

The meme coin market was yet again painted in red. After starting March on a positive note, assets like #Dogecoin (DOGE) and #Shiba Inu (SHIB) were hit with major losses. Shiba Inu was not only seen declining in terms of price, the asset also dropped down the cryptocurrency ladder. Currently, SHIB sits as the 20th largest cryptocurrency with a market cap of $7.55 billion. Considering the volatile nature of the market, the community hopes to see a positive change in the SHIB market sooner than later.

At the time of writing, the second largest meme coin was trading at $0.00001283. This came after witnessing a drop of nearly 9% over the past 24 hours. Just earlier this week, Shiba Inu was priced at a high of $0.00001512 before dropping to a low of $0.00001228.