As the cryptocurrency market prepares to enter 2023, Shiba Inu (SHIB) traders and investors are trying to understand what the new year will bring for the dog meme digital asset and many others that have been going through a tough time in the past months. markers.
The algorithm determines the SHIB price for January 1, 2023!
With that in mind, machine learning algorithms on crypto tracking platform PricePredictions have predicted that the Shiba Inu will change hands on January 1, 2023 at a price of $0.000008071, according to data received by Finbold on Dec.
Its analytics platform predicts a 2.62% drop in SHIB price from the previous year, taking into account technical indicators such as moving average (MA), moving average convergence divergence (MACD), relative strength index (RSI) and Bollinger Bands (BB). $0.000008288 at the time of publication.
SHIB 30-day price forecast. Source: Price Estimates
Positive developments fail to move price
The pessimistic forecasts come despite Shiba Inu being recognized as one of the three most-watched cryptocurrencies in 2022 on Binance, the world’s largest crypto exchange, placing it alongside market cap giants Bitcoin (BTC) and Ethereum (ETH).
As reported by Finbold on Dec. 11, SHIB has recorded steady growth in cremation rate, whale transactions and number of owners, adding about 7,083 more since November. According to Etherscan data, there are currently 9,408 owners out of 1,267,728.
Number of SHIB holders. Source: Etherscan
SHIB price dragged its feet
Currently, the Shiba Inu is currently trading at $0.000008288, which represents a daily drop of 0.95%, up 9.30% on weekly charts and 4.37% over the previous 30 days, according to data. There are so many lost. Received on December 21.
SHIB 30-day price chart. Source: Finbold
Based on the latest CoinMarketCap data. With a market cap of $4.55 billion, Shiba Inu is the 15th largest cryptocurrency by this indicator, ahead of cryptocurrencies like Solana (SOL), Avalanche (AVAX), Uniswap (UNI), Chainlink (LINK), and Monero (XMR).
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