February remains quite an important month for Shiba Inu [SHIB]. The entire SHIB community is eagerly looking forward to the launch of Shibarium. With its launch, trillions of SHIB tokens are expected to be eliminated/burned in the coming months. Now, all of these factors could boost the price of Shiba Inu. So, the question is, how high can the meme cryptocurrency’s price go?
Currently, SHIB was up by 1.22% over the last 24 hours with its price at $0.00001172. Unlike its rival Dogecoin [DOGE], Shiba Inu was pocketing minimal gains. Yet, Gov Capital believes that the meme cryptocurrency has the ability to surge to a high of $0.000018 in February.
The cryptocurrency is expected to reach this level as early as Feb.8, 2023. According to the portal, Shiba Inu could start the month at $0.000013. Throughout February, the asset might linger around the $0.000013 to $0.000018 zone.
Several are in the hope that Shibarium could eliminate a zero from the price of SHIB. However, it seems like the community might have to wait longer.
Also read: Shiba Inu: New Partnership to Allow SHIB Payments at Over 1000 Merchants
Here’s how Shiba Inu is closing January
Moving over the price aspect, the burn rate of Shiba Inu was plummeting. At press time, the network’s burn rate was at a negative 95.18%. On the positive side, the holder count of the asset continued to rise.
Throughout January, SHIB’s holder count recorded multiple highs. At present, the total addresses in the network hit an all-time high of 1,292,886. Active addresses constituted 14,645 entities.
Despite this rise, more than half of the holders in the network were under a loss. IntoTheBlock noted that 60% of holders were not making profits at SHIB’s current price. Only 35% of them were in the green. This situation might change as February could bring in gains for the overall network.