Shiba Inu (SHIB) briefly crossed the $0.000008 level last week but it has since entered a downward trajectory once again. The popular dog-themed crypto has fallen 1.2% in the last 24 hours and by 1.9% over the previous week. Moreover, the $0.000008 resistance may not be over by the end of this month, according to an AI machine learning algorithm. According to PricePredictions’ machine learning, AI, Shiba Inu (SHIB) could reach a price point of $0.000007930 by July 31, 2023.
Regardless, the platform noted that the $0.000008 level could be overcome by Aug. 20, 2023. As per the website, SHIB could reach a price of $0.000008095. However, machine learning AI predicted that SHIB will head downward after reaching the aforementioned level.
Also Read: Shiba Inu: Team Member Explains Why SHIB Isn’t On the Moon
How can Shiba Inu remove another zero?
SHIB’s layer-2 network, Shibarium, is anticipated to launch sometime in August. If the team is able to meet its deadline, SHIB could see a potential rally. The launch is one of the most significant for the project and may help remove a zero from the asset’s price.
When Shibarium goes live, Shiba Inu (SHIB) will cease to be an ERC-20 token on the Ethereum (ETH) blockchain. It will have its own blockchain, and with it, new real-world use cases may emerge. This may cause a flood of new investors to flock to the project, thereby pushing its price upwards.
However, despite the rumors, we do not have an exact launch date as of yet. According to blockchain infrastructure provider NOWNodes, the network is undergoing final upgrades before launch. Moreover, the firm took to Twitter and said that the launch is “closer than you think.”
At press time, SHIB was trading at $0.00000777, up by 0.2% in the last hour. Moreover, the token is down by a whopping 91% from its all-time high of $0.00008616, attained in October 2021.
Also Read: Shiba Inu: Shibarium Undergoing Final Updates Before Launch