Shiba Inu (SHIB) has had a difficult start to the new year. The popular memecoin is down by 2.1% in the last 24 hours, 6.7% in the 14-day charts, and 13.6% over the previous month. Since January 2023, SHIB’s price has fallen by more than 24%. The asset took a hit after the recent crypto market sell-off, likely due to investors selling their Grayscale GBTC shares.
Also Read: Shiba Inu: When Can SHIB Reclaim its All-time High of $0.000086?
However, despite the recent correction, SHIB’s price may rally over the next few days.
AI predicts Shiba Inu’s (SHIB) price for February 1, 2024
According to PricePredictions’ machine learning algorithm, SHIB’s price may surge to $0.000011 on February 1. The price rise would translate to a growth of about 21.4% from current levels.
Furthermore, PricePredictions anticipates SHIB to continue rallying till at least February 17.
Changelly, on the other hand, predicts Shiba Inu’s (SHIB) price to fall to $0.000008532 on February 1, a decline of about 5.8% from current levels. The platform anticipates SHIB to trade between $0.000009 and $0.000008 throughout February, hitting a high of $0.000009888 on February 26.
Also Read: Shiba Inu: These SHIB Investors Made Over $1 Million, Here is How
CoinCodex expects SHIB’s price to rise to $0.000009151 on February 1, an increase of around 1.02% from current levels. CoinCodex also predicts SHIB to trade between $0.000009 and $0.000008 throughout February.
Neither Changelly nor CoinCodex expects SHIB to delete a zer anytime soon.
Also Read: Shiba Inu: See What 10M, 100M SHIB Could Earn at $0.0009 or $0.009 Prices.
Shiba Inu’s (SHIB) price has struggled throughout 2023, and its lackluster performance seems to follow the project into the new year. However, the team has revealed a new automated burn mechanism for its layer-2 network Shibarium, which could help push the token’s price.
