The recent price push in the cryptocurrency sector has been particularly bullish for Shiba Inu (SHIB), which has managed to climb to 10th place in terms of market capitalization but has recently started to consolidate. Still, artificial intelligence (AI) algorithms remain optimistic.
As it happens, despite falling by nearly 18% in the past week, Shiba Inu has raced over 210% since the beginning of 2024, and advanced AI and machine learning price forecasting algorithms see even more intense gains toward the year’s end, setting its price at $0.00006656 on December 31, 2024.
Specifically, if these projections, which rely on the historical SHIB price trends, technical analysis (TA) indicators, and various chart patterns, actually materialize, they would suggest a price increase of 106.32% compared to Shiba Inu’s current price on March 12.
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Generative AI predictions
At the same time, the fourth iteration of the OpenAI invention ChatGPT, called GPT-4, has suggested a possible price range for Shiba Inu by the end of 2024 between $0.00001 and slightly below $0.000025, encapsulating the predictive analytics and expert opinions, “reflecting a cautious yet hopeful outlook.”
According to GPT-4:
“Such predictions underscore the inherent unpredictability of cryptocurrency value fluctuations, influenced by market sentiment, investor behavior, and external economic factors.”
On the other hand, Claude 3 Opus, the latest model by Anthropic, sees the price of SHIB between $0.00002026 and $0.0000441 by the end of 2024, which is a bit more optimistic than its OpenAI counterpart but still well below the dog-themed meme coin’s all-time high (ATH) of $0.00008616 from October 28, 2021.
In terms of longer-term prognoses:
“However, some experts believe that SHIB could reach as high as $0.000165 by 2030, although this may not be an easy move and largely depends on the hype surrounding the cryptocurrency.”
Shiba Inu price analysis
At press time, Shiba Inu was changing hands at the price of $0.00003226, reflecting a 5.96% drop on its daily chart, as well as declining 18.23% across the past week but nonetheless hanging onto the advance of 239.12% over the past month, as per the most recent data.
It is also worth noting that Shiba Inu has recently landed a spot in a prestigious list by the global media company Forbes, ranking it among the top 10 crypto assets, with the publication referring to SHIB as “an experiment to discover if a coin could work with no central governing authority.”
Ultimately, SHIB might end up at the price level predicted by any of the above AI platforms. However, predicting the price of any asset with precision is extremely challenging, which is why doing one’s own research is important before investing a significant sum of money in it.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
