The Shiba Inu (SHIB) community has grown significantly over the past few years, with many investors hoping to profit from the token’s potential rise in value. However, like any other cryptocurrency, the cost of SHIB is subject to market fluctuations and can be influenced by various factors.
Despite these fluctuations, several factors make SHIB an attractive investment opportunity for traders at any time of the year. As the Easter holidays approached, Finbold obtained a forecast for the price of Shiba Inu on Easter Sunday, 2023, using CoinCodex’s AI analysis.
What is Shiba Inu (SHIB) price? Based on data obtained on March 21, CoinCodex’s AI analysis predicts that Shiba Inu will trade at a price of $0.000009976 on April 9, 2023. While this projected price is slightly lower than SHIB’s current price of $0.00001052 at the time of writing, it is important to remember that cryptocurrency markets can be volatile and subject to sudden price changes based on a variety of factors.
As always, it is recommended that investors conduct their own research and seek the advice of a financial advisor before making any investment decisions.
There is no particular reason why cryptocurrency traders might want to purchase Shiba Inus around Easter. However, traders may observe some volatility in the price of digital assets due to the possibility that it will be purchased as a gift or used with specific retailers to pay for gifts at Easter.
Shiba Inu does have a lot of potential for growth and adoption, especially as more companies and people start to recognize and accept it as a form of payment. Shiba Inu may become more popular as a result, which could drive up the cost of the breed.
SHIB technical analysis
In the meantime, TradingView, a platform for financial and cryptocurrency analytics, has a generally negative sentiment on the one-day gauges for SHIB. The oscillators at two are in the “buy” zone, and the moving averages at 14 are pointing to a “strong sell,” which is what the summary suggests.
With a market capitalization of $6.2 billion, SHIB is trading at $0.00001052, down 1.54% over the past 24 hours and 3.81% over the previous week.
It’s interesting to note that, prior to April 9, the crypto community predicted the SHIB price for March 31, 2023, at $0.00001191, which is significantly higher than the Easter Sunday AI forecast and 83% historically accurate.
Shibarium is expected to increase the value of SHIB and present a new application for it, both of which may spark increased demand and eventually cause a price boom.
Shibarium’s beta release marks a significant turning point for the Shiba Inu community and the larger cryptocurrency market. Shibarium’s decentralized exchange (DEX), which supports SHIB and other ERC-20 tokens, faster and less expensive transaction processing, and staking incentives have the potential to completely alter the landscape of Layer 2 solutions.
The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.