The cryptocurrency market has been quite volatile in the past few weeks, experiencing sudden but gentle fluctuations that have left the community wanting more. Among the projects affected, the Shiba Inu community has had to face significant losses.
Data provided by IntoTheBlock shows that 81% of SHIB holders are currently in a loss, with only 15% achieving profits. This data highlights the challenging situation that some SHIB investors have been facing during this downtrend phase.
Despite the ongoing trend of losses, the community still holds hope for brighter days ahead. This optimism has recently been reinforced by PricePredictions, a platform for cryptocurrency price forecasting and data analysis. According to their analysis, Shiba Inu is predicted to end May on a positive and promising note.
Based on the AI-driven predictions, Shiba Inu is estimated to reach a price of around $0.000092 USD on May 31, 2023. It should be noted that AI utilizes various indicators to predict the price of SHIB, including the Moving Average Convergence Divergence (MACD), Average True Range (ATR), Relative Strength Index (RSI), and other indicators.
As of now, the meme coin Shiba Inu is trading at a price of $0.000008491 USD. Based on the above prediction, SHIB may reach a weekly high of $0.000009067 USD in the coming days.
When can Shiba Inu expect a significant price increase? It has been a long time since SHIB has witnessed any substantial price spikes. Those holding SHIB have also embraced the strategy of "hodling." The era when SHIB could create millionaires has passed. However, there are rumors within the Shiba Inu community about the upcoming launch of the Shibarium layer-2 solution in August, which could potentially trigger a price surge for SHIB.
The hype surrounding the Shibarium release could certainly drive up the price of this token. Additionally, the significant scale of future SHIB burns could further enhance the potential for price increases.
