Shiba Inu price has risen massively in the last few days. The second-largest meme coin was able to continue its upward trend over the past few weeks. Despite the sideways movement of the rest of the market, Shiba Inu coin went up. Will we even see another doubling of the value soon?
The SHIB course has risen sharply in the last month. From $0.000008, it went higher towards the current price of $0.0000152. This means that SHIB made around 92% since January 2023.
The recent increase in the last few hours came as a bit of a surprise, since the Bitcoin price and the other cryptocurrencies have not increased in price during this time. This makes the Shiba Inu Coin the only major coin that has risen so strongly during this time.
Why is Shiba Inu coin up?
In the last few days, we have seen more of a sideways movement on the market. So the breakout of the Shiba Inu coin came as a bit of a surprise. But the gains are arguably related to the impending launch of the Layer 2 scaling solution called Shibarium. The start of the beta mainnet should be imminent.
This upcoming start has already caused a stronger increase in the Shiba Inu course in the past few weeks. Since the beginning of the year, the price has increased by more than 80%. The SHIB Coin has thus risen to 12th place among the cryptocurrencies and could actually climb back into the top 10 soon.
Can the SHIB price double again soon?
At the moment the hype about the meme coin is big again. In addition to launching Shibarium, the network also has a token called ShibariumAI, a new ERC20 token. This token alludes to the hype surrounding artificial intelligence in recent weeks. So there are some exciting developments at Shiba Inu right now that are driving the price up.
Should this development of the price continue in the coming weeks, a doubling could even be imminent in the next few weeks. A lot will also depend on the development of the overall market. If the market remains bullish in February, the Shiba Inu coin could continue to rise strongly in price.
Shiba Inu Prediction for February 2023
Most analysts predict that the month of February 2023 is going to be green. If this happens, SHIB token can soar even higher. However, making another 100% return in February is a hard task and not even likely. Here are the targets as per the Shiba Inu prediction for February 2023:
- $0.000016
- $0.000018
- $0.000022
How to Mine Shiba Inu?
As stated previously, Shiba Inu operates on the Ethereum blockchain. Since Ethereum moved from PoW to PoS, there is no more mining for Ethereum or any other token that operates on the Ethereum blockchain. Hence, you cannot mine Shiba Inu anymore. However, you can stake Shiba Inu.
Shiba Inu Coinbase – How to Buy?
Coinbase is a good exchange that offers Shiba Inu coin as an option to buy and sell. You’ll always be in charge of your SHIB holdings. You only receive incentives while keeping your cryptocurrency secure with Coinbase; your SHIB never leaves your account.
You can start buying and selling right away by simply purchasing SHIB on Coinbase or adding SHIB tokens to your Coinbase account from an external wallet. To start right away, create a Coinbase account here.
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