Shiba Inu (SHIB) finished the week ending Jan. 13 as the most popular cryptocurrency on the market, with the dog meme token taking the top spot on CoinMarketCap’s trending list.
The algorithm determines the SHIB price for February 1, 2023!
With the Shibarium testnet launch on the horizon, traders and investors alike are dying to know what price SHIB will be trading at next month, as Shiba Inu developers released details on how the new Ethereum layer-2 blockchain will work on Jan.
The machine learning algorithm at PricePredictions predicts that SHIB will extend its uptrend from January to February. According to the forecast, the decentralized finance (DeFi) asset will likely trade at $0.000011 on February 1, representing an increase of about 4.66% from the price of SHIB at the time of publication.
AI forecasting uses technical indicators such as moving average (MA), moving average convergence divergence (MACD), relative strength index (RSI), and Bollinger Bands (BB), among others.
Shiba Inu price analysis
At press time, the Shiba Inu was trading at $0.0000105, up about 0.6% in the last 24 hours and up 16.29% from the previous week.
Specifically, the year-to-date (YTD) SHIB added over $1.3 billion to its current market cap of $5.7 billion as of January 17.
Shiba Inu’s developers have announced that the launch of Shibarium is “soon”, providing data on the functioning of the Layer-2 blockchain.
The blog reaffirms that the BONE will function as the gas token of the Shibarium and the SHIB will be burned in the process. Developers also go through the selection and reward system in terms of BONE and the planned TREAT token for Validators and Authorizers of the new blockchain.
Crypto traders will be hoping that when the Shibarium Beta launches, the Tier 2 Network will be a catalyst for further price increases.
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