Machine Learning Algorithm Sets Shiba Inu (SHIB) Price for 1st of June 2023

The Shiba Inu community is earnestly looking forward to the launch of Shibarium on the mainnet, and there have been a number of exciting news in relation to its development lately.

Average SHIB holders believe that the Shiba Inu Layer-2 solution will bring a lot of improvements to the growing network. Some other users also believe that its launch on the mainnet will benefit the digital token SHIB in terms of price appreciation.

Recently, a pseudonymous Shiba Inu developer team member, known as Shibarium1, revealed that the roll out of the Shibarium mainnet will happen sooner than later.

As the positive updates about Shiba Inu are released, we sought insights into the future price of the digital token SHIB from Price Predictions, a top crypto analytics and prediction platform that uses advanced machine learning algorithms.

According to what was deduced from the platform’s data, SHIB is expected to touch $0.00000854 by June 1, 2023. Although this represents a slight drop in price compared to the asset’s current trading value, it’s a projection that traders should not ignore.

Source: Price Predictions

What the Algorithm Uses for Predictions

For its forecasts, the platform Price Predictions relies on various technical analysis indicators, including moving average (MA), relative strength index (RSI), moving average convergence divergence (MACD), average true range (ATR), and Bollinger Bands (BB).

Wen Shibarium?

In response to the expectation of the Shiba Inu community on when Shibarium will launch on the mainnet, Shytoshi Kusama, a core SHIB developer, said via Telegram that his previous statement about launching Shibarium before May had been taken out of context. So, he decided to stop being specific about likely dates.

Howbeit, he assured the community that intense work is ongoing to make the launch happen as soon as possible, stating that the project is now “in go mode”. As stated in one of his tweets, he will soon update the anticipated community members.

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Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.