Shiba Inu (SHIB) is currently worth $0.00001644, up 5.09% in the last 24 hours thanks to big news from the United Arab Emirates (UAE). The country recently announced its plan to use blockchain technology, which has given SHIB a short-term boost.
But even with this good news, SHIB’s overall performance hasn’t been great. Over the past week, it’s down 10.63%, and over the last month, it has fallen 31.80%.
Once a top-10 cryptocurrency, SHIB has now dropped to 17th place as new meme coins take the spotlight. Even so, it has still benefited from altcoin rallies in 2024, keeping it relevant in the crypto market.
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On February 4, the Ministry of Energy and Infrastructure in the UAE announced a partnership with the Shiba Inu project. Their goal is to use blockchain technology to improve infrastructure and energy projects, making operations more efficient.
This is a big step forward for digital currencies in the UAE and has brought new attention to SHIB, which could affect its price in the coming weeks.
Shiba Inu price prediction
Following this announcement, Finbold used its AI-powered price prediction toolon February 5 to predict where SHIB’s price might be by the end of the month. The AI system looks at technical analysis, economic trends, and market sentiment, using data from multiple advanced models, including DeepSeek, Grok 2 Vision, Gemini 1.5 Flash 002, GPT-4o, and Claude 3.5 Sonnet.
After analyzing the data, the average predicted price for SHIB on February 28, 2025, is $0.0000195250, which would be an 18.62% increase from its current price. The highest prediction comes from Gemini 1.5 Flash 002, forecasting a 33.66% jump to $0.00002200.
The lowest estimate, from GPT-4o, suggests a slight 0.24% increase to $0.00001650. Right now, SHIB is priced at $0.00001646, meaning AI expects it to go up by the end of the month.
Crypto trading analysts weigh in on SHIB
Crypto analysts are closely watching SHIB’s price action, with some suggesting the token could be primed for a significant bullish breakout.
Crypto expert Javon Marks says SHIB has confirmed bullish signals, meaning its uptrend might continue. Marks also pointed out that SHIB recently broke through a key resistance level, which could send its price as high as $0.000081.
Marks also noted that buyers stepped in during the recent dip, pushing back against selling pressure. If this momentum keeps up, SHIB could rally over 393% toward that target.
Crypto trader YourPop believes SHIB is entering a strong buying zone. He thinks the UAE partnership announcement gives SHIB even more potential and calls it one of the best buys in the current market dip.
He also suggested that if the market drops again, he might increase his position.
Featured image via Shutterstock
