All Eyes on Shiba Inu in February 2023: What Can We Expect?

Binance Transfers Over 1.62 Trillion SHIB Tokens Within Ten Minutes

The month of February continues to be very significant for Shiba Inu [SHIB]. The whole SHIB community eagerly anticipates Shibarium’s launch. Trillions of SHIB tokens are anticipated to be destroyed or burned in the months following its launch. However, all of these factors could increase the price of Shiba Inu. So, how much higher can the price of the meme cryptocurrency rise?

SHIB’s price is currently $0.00001178, up 2.78% over the past 24 hours. Compared to its rival, Dogecoin [DOGE], Shiba Inu made very modest profits. Gov Capital, meanwhile, is confident that the meme cryptocurrency will soar to a high of $0.000018 in February.

As soon as February 8, 2023, the cryptocurrency is anticipated to hit this level. According to the portal, Shiba Inu might start the month at $0.000013. The asset might remain in the $0.000013 to $0.000018 range throughout the month of February.

Many people are hoping Shibarium will lower the price of SHIB by removing the zero. The community may have to wait a little longer.

Here’s how Shiba Inu is closing January

Shiba Inu’s burn rate was rapidly declining, ignoring the price factor. The burn rate for the network was negative 95.18% at the time of publication. The number of asset holders kept growing, which is a positive.

SHIB’s holder counts many hit high points in January. The number of addresses in the network has reached an all-time high of 1,292,886. 14,645 entities were active addresses.

Despite this increase, more than half of the network’s holders were experiencing a loss. According to IntoTheBlock, 60% of holders lost money on SHIB at the time of writing. Only 35% of them had a green portfolio. This position might improve if February results in network-wide gains.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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