Shiba Inu Price Prediction: August 2023

The Shiba Inu [SHIB] ecosystem is gearing up for a significant update scheduled for next month. The official launch of Shibarium, a layer-2 protocol, has been highly anticipated by the entire industry. The introduction of this protocol is expected to have a profound impact on the network and its investors.

Despite the majority of altcoins experiencing notable gains throughout the month, Shiba Inu’s price remained relatively steady. However, a widely used price prediction tool that employs machine learning algorithms forecasts a slight upward movement for SHIB in the near future. Based on the latest data, PricePredictions expects SHIB to trade at $0.000007828 on August 25, 2023. This projection suggests a dainty surge.

At press time, Shiba Inu was trading at $0.000007815, showing a 0.35% increase in its daily value. SHIB’s ranking experienced a significant climb, propelling the asset to the 16th position. Presently, the meme coin holds a market cap of $4.62 billion.

The above prediction is derived from a comprehensive set of indicators. This includes such as average true range [ATR], Bollinger Bands [BB], moving average convergence divergence [MACD], relative strength index [RSI], and other relevant metrics.

Also Read: Shiba Inu: New Video Hints That Shibarium Could Release Soon

Community sets Shiba Inu’s price

After the launch of Shibarium, the asset is expected to witness substantial gains. The community appears to be well aware of its potential. According to 1,385 votes on CoinMarketCap, Shiba Inu is predicted to experience a significant surge of 41.09% in August. The median price that SHIB is expected to reach is $0.00001105, while the average price projection stands at $0.00001108.

Currently, only 14% of the asset’s investors are in a profitable position, while a significant 80% are facing losses. However, this situation could potentially shift if the community’s prediction proves to be accurate. With Shib Inu, the bullish rally can take place overnight. The asset has proven to be a solid performer during an independent rally with respect to other assets.

Also Read: Shiba Inu: Shytoshi Kusama Celebrates Shibarium Milestone