Shiba Inu (SHIB) has made gains of up to 2.3% in the last 24 hours. Investors and fans alike are keeping their eyes on SHIB’s price as the project’s layer-2 network, Shibarium, is nearing launch.
The popular canine-themed cryptocurrency is currently facing resistance at around $0.00001384, with support at about $0.00001258. Moreover, the token has formed a symmetrical triangle on the 4-hour chart. This could signal a breakout for the asset and test its resistance at the $0.00001517 level. If SHIB can end a candle above $0.00001355, we may see a breakout rally soon.
Furthermore, SHIB whales continue to buy the token, which may also contribute to an increased price. The 6th biggest Shiba Inu (SHIB) holder recently purchased $1.21 million worth of tokens.
The purchase was made after Binance announced a partnership with Ingenico to offer cryptocurrency payments in France. SHIB is also one of the permitted tokens in the partnership.
Read More: Shiba Inu: BONE Price Prediction For March 2023
Artificial Intelligence predicts Shiba Inu price for Feb. 28, 2023
The folks over at PricePredictions have used machine-learning algorithms to forecast the popular cryptocurrency’s price for Feb. 28, 2023.
According to the data from PricePredictions, Shiba Inu (SHIB) will trade at $0.000012 on Feb. 28, 2023. At the same time, CoinMarketCap predicted that SHIB would exchange hands at $0.00001157 on the same day. However, it should be noted that the predictions were made at the end of January 2023. With recent developments surrounding the launch of Shibarium, which is set to happen in the next few weeks, the price of the asset could change.
If the PricePredictions’ forecast is proven true, it will represent a fall of 7.69% at current rates. On the other hand, if CoinMarketCap’s prediction comes to fruition, it would mean a fall of 12.15%.
At press time, SHIB was trading at $0.00001317, up 2.3% in the last 24 hours.