With the majority of assets in the cryptocurrency market slowing down their previous gains or even starting to reverse them, Shiba Inu (SHIB) is no exception, but artificial intelligence (AI) remains optimistic regarding the future price of the token based on popular doge meme.
As it happens, the price of Shiba Inu has been in the red for the past day, having lost over 5% to its value in just 24 hours. However, it has been recording continuous gains this year, climbing nearly 150% since the year’s turn in a demonstration of its strength and potential for the future.
Shiba Inu price chart. Source: PrimeXBT
All things considered, the currently 11th-largest crypto asset by market capitalization might recover and continue to grow its price towards the year’s end, evidenced by AI models’ offered ranges corroborated by PrimeXBT’s latest data and supported by positive developments, like Shibarium significantly speeding up its Ethereum (ETH) bridge time.
The 7-day delay was meant to stabilize token prices by encouraging longer stays on Layer 2. But now, who needs to wait a week when it can be done in under an hour? We're all about efficiency and user-friendliness now!
— Shibarium Network (@ShibariumNet) May 29, 2024That said, doing one’s own research and carrying out a detailed risk analysis is critical when investing large amounts of money in any asset, as things in the crypto sector can sometimes change without warning, so caution is necessary to avoid significant losses.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
