Crypto community with 83% historical accuracy sets SHIB price for March 31, 2023

After the United States Securities and Exchange Commission’s (SEC) continuous assault on crypto companies and Silvergate Capital Corporation’s (the holding company of crypto-focused Silvergate Bank) decision to wind down operations, the crypto market has turned negative, with Bitcoin (BTC) tumbling below the $20,000 barrier. 

Hence, many in the cryptocurrency space are unsure of the long-term worth of prominent altcoins like Shiba Inu (SHIB), renowned for producing price pumps among retail traders, leading many investors to turn to machine learning algorithms to anticipate the value of Shiba Inu at the end of the month. 

The predictions of the crypto community on CoinMarketCap for the meme tokens price over the last six months have historically been accurate to the tune of 83%, making them an alternative to the artificial intelligence (AI) price estimate. It’s worth noting that as of the end of February, the most recent estimate accuracy was 99.98%.

SHIB 6-month estimation accuracy. Source: CoinMarketCap

If the estimations of 3,026 member votes prove correct for March 31, it would mean that the price of SHIB by the end of March will trade at $0.00001191, an increase of 18.77% or +$0.000001882 at the time of publication.

SHIB end of March price estimation. Source: CoinMarketCap

SHIB technical analysis

SHIB’s technical analysis (TA) on TradingView’s 1-day gauges are bearish; its summary aligns with the ‘sell’ sentiment at 15, resulting from oscillators pointing at ‘neutral’ at 9 and moving averages (MA) indicating a ‘strong sell’ at 14.

SHIB 1-day trading gauges. Source: TradingView

Currently, SHIB is trading at $0.00000998, down 8% on the day and a further 12.41% across the previous week, as per the data retrieved by Finbold on March 10.

SHIB 7-day price chart. Source: Finbold

It is also important to note that Shiba Inu is currently the 13th-largest digital asset in terms of its market capitalization, which at the time of publication amounted to $5.4 billion, as per the data retrieved by Finbold on March 10.

Finally, investors will be hoping that the SHIB team, hard at work to develop the highly anticipated Layer 2 network called Shibarium, will be able to boost the asset’s price by the end of the month. Notably, its leading developer Shytoshi Kusama recently informed the public via Twitter bio that ShibaSwap was the only official decentralized exchange for the Shiba Inu and Shibarium ecosystem.

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.