Amid a bullish week for the majority of assets in the cryptocurrency market, Shiba Inu (SHIB) has made some impressive gains as well, but artificial intelligence (AI) algorithms do not predict further increases for the most famous dog meme cryptocurrency for this year’s Halloween.
As it happens, the AI-driven algorithms used by the crypto analytics platform CoinCodex have set the price of Shiba Inu at $0.000007235 for October 31, which would represent a decrease of 10.24% to its current price, according to the information retrieved on October 26.
At the same time, Google Bard has offered the potential range for Shiba Inu based on historical context and factors such as price movement and its relative stability in recent months, specifying the potential low price of $0.0000065 and the potential high of $0.0000076 for this Halloween.
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In terms of this historical context, it is worth mentioning that the price of SHIB during past Halloweens since its launch in 2020 was very variable, so it is difficult to draw any clear conclusions. For instance, on Halloween 2020, Shiba Inu was trading at a mere $0.000000000168.
The next Halloween saw the price of SHIB skyrocket to a whopping 38,934,400% from the year before, to $0.00006541, only to drop again the year later and change hands at the price of $0.00001194 on October 31, 2022, down 81.75% from the year before.
SHIB price analysis
At press time, the price of SHIB stood at $0.00000806, recording a significant daily increase of 10.23%, adding up to the 19.6% gain across the previous seven days and the advance of 10.51% on its monthly chart, according to the most recent data retrieved on October 26.
All things considered, AI algorithms do not predict much of a positive change for the price of this crypto asset in the next few days, but it is nonetheless important to carry out one’s own research, as well as carefully consider one’s risk tolerance and investment goals when dedicating a significant part of the portfolio to any asset.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
