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.
SHIB 1-year price prediction. Source: CoinCodex
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.
Shiba Inu 30-day price chart. Source: Finbold
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.
