The cryptocurrency tracking platform PricePredictions has predicted that Shiba Inu price will reach $0.000011 by March 31, 2023, according to their machine learning algorithms.
Shiba Inu 30-day forecast | Source: PricePredictions
However, the sentiment on the 1-day gauges at TradingView is currently bearish for Shiba Inu, suggesting a ‘sell’ at 12 due to moving averages pointing to ‘sell’ at 10 and oscillators suggesting a ‘sell’ at 2.
Shiba Inu 1-day sentiment gauges | Source: TradingView
As of now, Shiba Inu is trading at $0.00001192, down 4% on the day and 9% compared to a week ago, although it has still recorded a monthly gain of 4%.
SHIB/USD 4-hour chart | Source: TradingView
Whether the dog meme token can reach the price projected by the deep learning algorithms will depend on developments surrounding it, including the Layer-2 network Shibarium’s beta launch and its unique display at SXSW 2023, as well as the general macro and crypto sentiment.
Read more:
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- Whales Are Grabbing Large Lumps Of Shiba Inu, Stocking Up Before Shibarium Release