Over the last couple of weeks, meme coins have witnessed tremendous growth. All thanks to Elon Musk, Shiba Inu [SHIB], Floki Inu [FLOKI], and Baby Doge coin were pumping alongside Dogecoin. While the chances of this notion lasting were uncertain, several factors led the community to believe that assets like Shiba Inu could pump.
For starters, the launch of Shibarium is widely anticipated. Therefore, any announcement about the same has boosted the price of the asset. With the Layer-2 update coming sooner than later, this notion could be carried on.
Shiba Inu continues to remain a prominent choice for Ethereum whales. Currently, SHIB is among the ten most purchased tokens by the top-100-Ethereum whales. Additionally, SHIB has bagged the fourth spot after ETH, USDC, and USDT as the most held tokens by these whales.
Another factor that strengthens this sentiment is the machine learning algorithm’s optimistic price prediction of Shiba Inu. According to PricePredictions, a crypto-monitoring platform, Shiba Inu is expected to enter the $0.000014 zone.
At press time, SHIB was trading for $0.00001311 with a 0.93% daily drop. The asset managed to climb to a high of $0.00001562 earlier this month. The AI prediction could suggest that SHIB might witness an increase of about 8%, considering its current price.
It should be noted that this algorithm employs a number of indicators like MACD, moving averages, Relative Strength Index, Bollinger bands, and others to come up with the prediction.
Majority of Shiba Inu holders are currently at a loss
At Shiba Inu’s current price, more than half of its holders were enduring a loss. Sadly, only 41% of them were making money. However, if things go as per the above prediction, good news may be on its way for these holders.
Currently, there are a total of 1,311,609 addresses in the network. The active addresses in the SHIB ecosystem were 14,645.