Although 2024 has started positively for many cryptocurrencies, this has not been the case for Shiba Inu (SHIB), which has only started to make an effort to reverse its losses, and the data compiled by the artificial intelligence (AI) platform ChatGPT suggests a wide trading range this year.
Indeed, Finbold has asked ChatGPT-4, the most recent model of the celebrated invention by OpenAI, to provide insights into the possible price range of Shiba Inu in 2024, taking into account expert opinions, historical price movements, technical indicators, and ecosystem growth, on January 5.
ChatGPT’s expectations for SHIB
As it happens, using the above factors as a basis for its predictions and a premise of a consistent market behavior pattern, the AI chatbot synthesized the available information and offered three possible scenarios for the tentative price range of SHIB in 2024 – bullish, bearish, as well as a moderate estimate.
Picks for you
Specifically, in a bullish scenario, SHIB could reach $0.0000259 to $0.002345, “factoring in successful ecosystem developments and a favorable market environment.” However, the “bearish predictions forecast a drop to $0.0000078, possibly due to market downturns or setbacks in project development.”
Finally, ChatGPT noted that a middle-road price prediction for Shiba Inu in 2024 places its value “at around $0.00000920 to $0.00001311 on average.” If correct, this means that SHIB could range between a price that is 5% lower or 35% higher than its current value.
Shiba Inu price analysis
At press time, SHIB was changing hands at the price of $0.0000097, which is an increase of 0.52% in the last 24 hours but nonetheless an 8.53% drop across the previous seven days and a decline of 4.54% in the last month, according to the charts on January 5.
Overall, whether SHIB meets any of the targets set by ChatGPT will depend on the above factors, including the fact that it has over a million holders, the state of the crypto market, as well as outside factors that could exert pressure on the meme crypto asset. That said, doing one’s own research is critical before investing.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
