- Shiba Inu eyes double-digit gains in February 2024 based on a historical median return rate exceeding 10.95%.
- The Shibarium burn portal launch could lead to significant asset burns, enhancing Shiba Inu’s deflationary nature.
- Changelly predicts Shiba Inu’s trading range at $0.00000804 to $0.00000990 next month.
Shiba Inu (SHIB) is generating buzz as February 2024 approaches, with historical data hinting at the potential for substantial gains. Historically, February has proven to be a bullish month for Shiba Inu, showcasing a median return rate exceeding 10.95%.
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The cryptocurrency, which commenced the year around $0.000001030, has experienced a 12.23% decrease in value. As January draws to a close, market participants are eagerly anticipating Shiba Inu’s performance in February, hoping for a positive turn that could bring smiles to their faces.
One key factor contributing to the positive outlook is the imminent launch of the Shibarium burn portal by Shiba Inu’s ecosystem team. The burn portal is designed to introduce deflationary measures, potentially leading to significant asset burns.
The portal’s deployment on Puppynet for testing is underway, and upon successful results, it is expected to roll out on the mainnet. This strategic move could result in the transfer of millions to billions of Shiba Inu tokens to dead wallets at intervals, aligning with the asset’s deflationary goals.
Meanwhile, in line with Changelly’s price projection, the lowest anticipated trading cost could be $0.00000804, with the highest potentially reaching $0.00000990 throughout the current month. The average forecast suggests that Shiba Inu’s value might hover around $0.00000897, indicating a potential return on investment (ROI) of 10%.
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