Following the success of ChatGTP sparked the renewal of interest in artificial intelligence (AI), new products have been entering the space, including Google Bard, which has demonstrated its capability to be of use in predicting future market trends in the cryptocurrency sector.
In this context, Finbold asked Bard for input on the possible price of Shiba Inu (SHIB) by the end of 2023. Like its predecessor, this chatbot also distanced itself from being able to predict the price of SHIB at the end of 2023 with certainty, but it has nonetheless offered a possible price level.
$0.00001 in cards?
Specifically, Google Bard said that it was possible that the price of the Shiba Inu coin by the end of the year could reach $0.000010, acknowledging that “this would represent a significant increase from its current price of $0.0000085.” Indeed, it would equal a 17.65% increase.
On top of that, the AI tool offered other Shiba Inu price predictions for 2023, retrieved from different sources, including CoinPriceForecast, PricePredictions, and others, the average of which could be boiled down to $0.00001125, close to Bard’s predictions.
Factors influencing SHIB price
As Bard pointed out, there are multiple factors that could contribute to SHIB’s price growth in 2023, including the growing crypto adoption by traditional investors, further growth of the Shiba Inu ecosystem, as well as positive news coverage of the cryptocurrency, and the general market.
On the other hand, the platform has listed regulatory hurdles to trading crypto, a decline in the crypto market, and negative news coverage, as the factors that could negatively impact the price of SHIB in 2023 and which any investor needs to take into consideration.
Shiba Inu price analysis
Meanwhile, Shiba Inu was at press time changing hands at the price of $0.000008488, recording a 0.46% gain on the day but losing 2.33% in the last week and declining 19.60% over the previous month, as per the recent data retrieved on May 26.
Whether SHIB truly manages to reach the price projected by Google Bard will, indeed, as the chatbot stressed, depend on further developments closely related to the Shiba Inu ecosystem, as well as the general atmosphere and sentiment on the wider cryptocurrency and macroeconomic landscape.
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