Crypto community with 83% historical accuracy sets the SHIB price for March 31, 2023
The CoinMarketCap cryptocurrency community price estimate is based solely on the votes of its users. Estimates do not guarantee end of month prices.
Following the United States Securities and Exchange Commission’s (SEC) continuous attacks on crypto companies and Silvergate Capital Corporation’s (the holding company of crypto-focused Silvergate Bank) decision to wind down operations, the crypto market has turned negative, with Bitcoin (BTC) falling below the $20,000 barrier.
Therefore, many in the cryptocurrency space are uncertain about the long-term value of prominent altcoins such as Shiba Inu (SHIB), known to produce price pumps among retail traders, leading many investors to turn to machine learning algorithms to predict the value of Shiba Inu at the end of the month.
The predictions of the crypto community on CoinMarketCap for the meme token’s price over the past six months has historically been accurate 83%, making them an alternative to the artificial intelligence (AI) price estimate. It is worth noting that at the end of February, the latest estimate accuracy was 99.98%.
If the estimates of 3,026 member votes prove correct for 31 March, it will mean that the price of SHIB by the end of March will trade at $0.00001191an increase of 18.77% or +$0.000001882 at the time of publication.
SHIB technical analysis
SHIB’s Technical Analysis (TA) on TradingView’s 1-day gauges is bearish; the summary is consistent with ‘sell’ sentiment at 15, as oscillators point to ‘neutral’ at 9 and moving average (MA) indicating a ‘strong sell’ at 14.
Currently, SHIB is trading at $0.00000998, down 8% on the day and another 12.41% from last week, according to data obtained by Finbold on March 10.
It’s also important to note that Shiba Inu is currently the 13th largest digital asset in terms of market capitalization, which at the time of publication was $5.4 billion.
Finally, investors will hope that the SHIB team, which is working hard to develop the long-awaited Layer 2 network called Shibarium, will be able to increase the asset’s price by the end of the month. Especially its lead developer Shytoshi Kusama recently informed public via Twitter bio that ShibaSwap was the only official decentralized exchange for the Shiba Inu and the Shibarium ecosystem.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
