The Shiba Inu [SHIB] network has witnessed several highs and lows throughout the last couple of months. This was in coordination with the cryptocurrency market as a whole. While it has been more lows than highs, the community hopes to gain profits following the launch of Shibarium. As the Shib Army awaits this layer-2 rollout, the size of the community was expanding.
At press time, the total number of unique addresses in the network hit an all-time high of 1.29 million.
Sadly, more than half of these SHIB holders were at a loss while only 35% of them were making profits. As per IntoTheBlock, 60% of them were making money at the meme coin’s present price.
Currently, the meme coin was trading for $0.00001153 with a 1.23% daily decrease. Shiba Inu is 86.97% below its all-time high of $0.00008845 which it hit over a year ago. However, the network is prepping to burn trillions of SHIB with the release of Shibarium. This would further add to the hype around the launch eventually boosting the price of the meme coin.
Shibarium’s beta version is speculated to make its debut on Valentine’s Day which is on February 14, 2023.
But would this trend persist? Here’s where this artificial intelligence platform believes SHIB’s price would go in the coming month.
Shiba Inu: What Could Its Price Be on Feb 1?
As forecasts continue to take a front stage, artificial intelligence forums have been predicting the price of SHIB. According to PricePredictions, a machine learning system, Shiba Inu is expected to trade around the same range.
This Shiba Inu prediction was based on several indicators. This includes Bollinger Bands, the Relative Strength Index, Moving Averages, and Moving Average Convergence Divergence, more commonly known as MACD.
As seen in the chart the asset’s price is expected to surge through February 2023.