The Shiba Inu (SHIB) community has grown rapidly in the last few years, with many investors hoping to see the price of the token rise. However, as with any cryptocurrency, the cost of SHIB is subject to market fluctuations and can be influenced by various factors.
Several factors potentially make the meme token an attractive investment opportunity for traders at any time of the year. In light of the fact that the Easter holidays are just a few weeks away, Finbold was able to obtain a forecast for the price of Shiba Inu on Easter Sunday, 2023, using CoinCodex’s AI analysis.
According to data obtained on March 21, Shiba Inu is anticipated to trade at a price of $0.000009976 on April 9. However, the projected price is somewhat lower than SHIB’s current price of $0.00001052 at the time of writing.
There is no specific reason why crypto traders might want to buy Shiba Inu around Easter in particular. However, with the potential for it to be bought as a gift or used with certain merchants to pay for gifts at Easter, traders may see some volatility in the digital assets price.
Indeed, the potential for growth and adoption of Shiba Inu is high, particularly as more businesses and individuals begin to recognize and accept the currency as a form of payment. This could lead to increased demand for Shiba Inu and a subsequent rise in its price.
SHIB technical analysis
In the meantime, the sentiment on the one-day gauges over at the finance and crypto analytics platform TradingView is generally bearish for SHIB. The summary suggests a ‘sell’ at 14, as collected from the oscillators standing in the ‘buy’ zone at two and moving averages pointing to a sell at ‘strong sell’ at 14.
SHIB is changing hands at $0.00001059, down 1.54% in the last 24 hours and a further 3.81% across the previous week, with a total market capitalization of $6.2 billion.
Interestingly before April 9, the crypto community, with 83% historical accuracy, set the SHIB price for March 31, 2023, at $0.00001191, slightly higher than its current price and significantly higher than the Easter Sunday AI forecast.
Shibarium update
It is anticipated that Shibarium would boost the value of SHIB and introduce a new use case for it, both of which may stimulate increased demand and eventually lead to a price boom.
Launching Shibarium’s beta version represents an important milestone for the Shiba Inu community and the wider cryptocurrency industry. Shibarium can potentially revolutionize the landscape of Layer 2 solutions with its faster and less expensive transaction processing, staking incentives, and decentralized exchange (DEX) that supports SHIB and other ERC-20 tokens.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://finbold.com/ai-predicts-shiba-inu-shib-price-for-easter-2023/