The cryptocurrency market continues to struggle with strong sales this week. While sales from GBTC, Grayscale’s Bitcoin fund, caused the BTC price to fall below $ 40,000. Shiba Inu The price also got its share from this. The price of the leading meme coin fell to $0.000009, going in the opposite direction to bullish expectations.
What Level Will Shiba Inu Reach in February?
According to analysis published by CoinCodex SHIBIt will rise only 5% from its current level by February 7, 2024. This means the price could rise as high as $0.000009286. However, after the rise, analysts expect a 9% drop to $0.0000080 in the middle of the month.
Changelly, which also includes its analysis for the first day of February, expects the price to decrease by 7.5% on February 1, 2024. However, this decline may not spread throughout the week and may serve as the first wick of additional gains of up to 11% throughout the week.
As Koinfinans.com reported, even the layer-2 network Shibarium, which was introduced last year, had difficulty in creating a positive impact on the Shiba Inu price with many technical and community developments. Shibarium Although it continues to grow in terms of many metrics, the SHIB price has failed to benefit positively from this.
Finally, Changelly predicts maximum levels of $0.0000149985 in 2024. The community, on the other hand, predicts that the supply will decrease even more rapidly with the burning in the Shibarium network.