Shiba Inu (SHIB) has seen its price climb drastically since the start of 2023. With the Shibarium upgrade rumored to be implemented in February, the dog meme token is one that investors are keeping a close eye on.
The machine learning algorithms at the crypto monitoring platform PricePredictions have projected the price of SHIB will trade at $0.000012 on February 28, 2023, according to the data retrieved on January 30.
In comparison, the crypto community at CoinMarketCap, with 77% historical accuracy, sets the SHIB price at an average price of $0.00001157 on the last day of this month.
By aggregating the technical analysis (TA) indicators, including moving averages (MA), the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more, the forecast represents an increase of 3% from SHIB’s current price of $0.00001165.
The meme token, in terms of the sentiment on TradingView’s technical analysis indicators on 1-day gauges, is mixed, with the summary pointing at a ‘buy’ at 12, as summarized from oscillators being in the ‘sell’ zone at 2, and moving averages suggesting ‘strong buy’ at 12.
Potential SHIB price benefactors
Shytoshi Kusama, the lead developer of Shiba Inu, disseminated a mysterious update about the impending launch of Shibarium, the much-awaited layer-2 network.
In a recent message sent out over Telegram, Kusama instructed followers to “keep popcorn on the ready.” The statement has caused members of the Shiba Inu community to speculate that the debut of Shibarium may be taking place in the near future.
On top of that, the head developer of Shiba Inu had made yet another cryptic comment on the upcoming arrival of Shibarium, this time alluding to a “heart-shaped box” in his Twitter status post.
The community is excited to see what Kusama and his crew have planned for them, and the assumption that the debut date would be on Valentine’s Day has added further excitement to the event. AI notably predicts SHIB will trade at $0.000011 on February 14.
Shibarium is a layer 2 network that solves scalability, performance, and cost concerns. Shiba Inu, the meme-inspired cryptocurrency, swept the crypto market in late 2021.
The token, designed as a parody of the famous Dogecoin, saw its value surge as its popularity among retail investors grew. The token has a devoted following of investors and enthusiasts who have contributed to its adoption and development. As a result, a burgeoning ecosystem of decentralized apps and services has emerged.
Despite losing the bulk of its value, SHIB remains one of the top cryptocurrencies in market capitalization, with a market worth of $6.3 billion.
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