The hype around artificial intelligence (AI), revived by OpenAI launching its text-based tool ChatGPT, has not yet died down, and other products in the generative AI market have stood out, including Google Bard, which has demonstrated usefulness in analyzing cryptocurrencies like Shiba Inu (SHIB).
Indeed, as most assets in the cryptocurrency market continue to trade in a sideways trend, and some are even moving downward, Shiba Inu is not an exception, which is why Finbold asked Bard for insights on the possible future price of SHIB in the next crypto bull market.
Factors at play
As Google Bard highlighted, predicting the price of Shiba Inu in the next bull market is challenging, but there are a number of factors that could impact its price, including the development of the Shiba Inu ecosystem, particularly the introduction of a layer 2 solution, Shibarium.
Other factors, according to the AI tool, include the adoption of SHIB by businesses and consumers as a form of payment, thus increasing its demand, as well as the overall performance of the crypto market. For instance, bullish sentiment in the sector is likely to reflect on SHIB as well.
SHIB price predictions
Considering the above factors, Bard has shared several specific prognoses for the price of SHIB, which, according to some experts, could reach $0.00001 or even $0.0001 in the next bull market.
The crypto news outlet AMBCrypto has predicted that the average price of SHIB in October 2023 could be $0.0000081 (15% lower than at press time), with a maximum price of $0.0000087 (down 9%). On the other hand, CoinPedia is optimistic, projecting $0.0000112 (up 16.35%) in the next bull market or even a high of $0.0000259 (169% gain).
Finally, crypto exchange Changelly has the most bearish minimum price forecast among those listed by Bard, having set the price of Shiba Inu at a minimum of $0.0000079192 (down 17.74%) and a maximum of $0.0000092891 (down 3.51%) by the end of 2023, as the AI platform specified.
SHIB price analysis
As things stand, SHIB is currently changing hands at the price of $0.0000096274, which represents a decline of 6.05% on the day, a 2.53% loss over the past week but still an increase of 23.05% compared to 30 days ago, as per the data retrieved on August 16.
All things considered, Bard has shared a summary of predictions gathered from available online sources, but these are far from an exact science, which is why each investor should research all assets before dedicating a significant part of their portfolio to them.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.