Machine learning algorithm sets SHIB price for February 28, 2023

Shiba Inu (SHIB) has seen its price climb drastically since the start of 2023. With the Shibarium upgrade rumored to be implemented in February, the dog meme token is one that investors are keeping a close eye on.

Artificial intelligence (AI) forecasts that halfway through the month, the machine learning algorithms at the crypto monitoring platform PricePredictions have projected the price of SHIB will trade at $0.000012 on February 28, 2023, according to the data retrieved on January 30.

SHIB February 28 price prediction. Source: PricePredictions

By aggregating the technical analysis (TA) indicators, including moving averages (MA), the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more, the forecast represents an increase of 3% from SHIB’s current price of $0.00001165.

The meme token, in terms of the sentiment on TradingView’s technical analysis indicators on 1-day gauges, is mixed, with the summary pointing at a ‘buy’ at 12, as summarized from oscillators being in the ‘sell’ zone at 2, and moving averages suggesting ‘strong buy’ at 12.

SHIB 1-day sentiment gauges. Source: TradingView

Potential SHIB price benefactors 

Shytoshi Kusama, the lead developer of Shiba Inu,  disseminated a mysterious update about the impending launch of Shibarium, the much-awaited layer-2 network. 

In a recent message sent out over Telegram, Kusama instructed followers to “keep popcorn on the ready.” The statement has caused members of the Shiba Inu community to speculate that the debut of Shibarium may be taking place in the near future.

On top of that, the head developer of Shiba Inu had made yet another cryptic comment on the upcoming arrival of Shibarium, this time alluding to a “heart-shaped box” in his Twitter status post. 

The community is excited to see what Kusama and his crew have planned for them, and the assumption that the debut date would be on Valentine’s Day has added further excitement to the event. AI notably predicts SHIB will trade at $0.000011 on February 14.

Shibarium is a layer 2 network that solves scalability, performance, and cost concerns. Shiba Inu, the meme-inspired cryptocurrency, swept the crypto market in late 2021. 

The token, designed as a parody of the famous Dogecoin, saw its value surge as its popularity among retail investors grew. The token has a devoted following of investors and enthusiasts who have contributed to its adoption and development. As a result, a burgeoning ecosystem of decentralized apps and services has emerged. 

Despite losing the bulk of its value, SHIB remains one of the top cryptocurrencies in market capitalization, with a market worth of $6.3 billion.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Comments

No comments to show.
New Bookmakers
Playfina.com

The newest member of DAMA N.V. family offers more than 6000 games and accepts a wide range of cryptocurrencies, which are arguably the most widely used form of payment for gamblers right now.

Cryptoplay.io

In the year 2021, Cryptoplay Casino went live for the first time. To bitcoin enthusiasts, the online gaming site offers an amazing game library, exclusive bonuses, and promotions.

CryptoGames

Since its inception in 2014, this crypto casino has amassed a sizable following and an even stronger reputation. This all-crypto casino has 8 Provably Fair games, a faucet, and the ability to utilize one of ten cryptocurrencies.

PlayAmo

In general, if you're looking for information on the PlayAmo casino's features and idiosyncrasies, you'll find it here.

Oshi

Oshi Casino is a bitcoin casino with a simple instant-play interface that accepts euro deposits as well as other cryptocurrencies like Ethereum.