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Meme coins have become an inseparable part of the cryptocurrency landscape, with some standing out from their competitors. Pioneered by DOGE, among these meme coins, SHIB is positioned as its closest rival. While investors continue to debate whether SHIB will one day reach one dollar, what does artificial intelligence predict about SHIB’s future price? Here is the AI‘s prediction for SHIB on February 29.
Shiba Inu Price Prediction
The cryptocurrency markets remain uncertain due to events on Wall Street, the ongoing effects of ETFs, and the recent economic crisis in China. In light of all these factors, machine learning and artificial intelligence (AI) algorithms still show an optimistic trend for the potential price of Shiba Inu (SHIB) on February 29.
According to data provided by CoinCodex‘s artificial intelligence algorithms on February 5, the price of SHIB is expected to be $0.000009363 on February 29, 2024, indicating a slight increase.
If the machine learning algorithm’s prediction for Shiba Inu’s price proves to be accurate based on its underlying principles, a gain of 4.46% from its value at the time of writing will be observed.
The Impact of Shibarium on SHIB
While all this is happening, recent data from Shibarium ecosystem tracker Shibariumscan has shed light on significant points. The Shiba Inu network recently surpassed the 3 million block milestone. This number shows users that a new block is produced every five seconds.
Additionally, more than 335 million transactions have been recorded on Shibarium to date, and as of the time of writing, there are 1.35 million cryptocurrency wallets on the chain. Considering all these factors, an impressive growth in the blockchain is evident, and it seems to pave the way for potential growth for SHIB.
Current Shiba Inu Price Status
As of the time of writing, the SHIB price is trading at $0.000008912, indicating a 1% decrease over the last 24 hours. A 4% decline is observed when looking at the past seven days, while a monthly review shows an even larger decrease of 6.47%.
SHIB has also experienced a decrease in both 24-hour trading volume and market capitalization. As of the time of writing, the 24-hour trading volume has fallen by 6.43% to $66 million, while the overall market capitalization has decreased by 1% to $5.2 billion.
