For many crypto traders, the passion for Shiba Inu (SHIB) is as profound as their love for many of the other cryptocurrencies available on the market. The ‘SHIB army’ believe in the promise of digital currency and is ready to ride out the volatility in the hope of reaping large gains in the long term.
Although Shiba Inu didn’t make it onto the list of the top 5 most loved cryptocurrencies in 2022, Finbold has analyzed the future potential performance of SHIB in 2023 using artificial intelligence (AI) forecasts in celebration of Valentine’s Day and to investigate the possible influence of the occasion on the purchase of Shiba Inu as a gift.
Notably, the machine learning algorithms at the crypto monitoring platform PricePredictions have projected the price of SHIB will trade at $0.000011 on February 14, 2023, according to the data retrieved on January 25.
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.
SHIB price analysis
As things stand, SHIB is changing hands at $0.00001117, down 6.07% in the last 24 hours and down a further 10.17% across the previous seven days.
Despite the meme token being down over the last week, in terms of the sentiment on TradingView’s technical analysis indicators on 1-day gauges, it is rather bullish, with the summary pointing at a ‘buy’ at 14, as summarized from oscillators being in the ‘neutral’ zone at 9, and moving averages suggesting ‘buy’ at 10.
Another factor that could influence SHIB’s price by Valentine’s Day is the beta release of the much anticipated Shibarium layer-2 scaling solution for Shiba Inu is drawing close, as hinted by main developer Shytoshi Kusama in his Twitter profile.
Keeping with the Valentine’s Day theme, Kusama’s Twitter profile on January 20 had a word puzzle that may have revealed the beta launch date.
“tending the Pine Tree of Life. Quickly learning to play the flute before putting Shibarium in a heart-shaped box with a bow.”
After the profile change, members of the Shiba Inu (SHIB) community began attempting to decipher the message, with some speculating that the release of Shibarium would occur on February 14, Valentine’s Day.
The recent events have sparked widespread interest in the crypto community, with many people wondering what the future holds for the project and how it will affect the sector as a whole. Shibarium’s debut is intended to increase performance for the Shiba Inu ecosystem and indicate an industry change as more projects seek to layer-2 solutions to improve scalability, privacy, and security.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.