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 prediction 2024
Notably, by combining the leading AI models and comprehensive analytics data offered by PrimeXBT, a prominent crypto trading platform that relies on critical technical analysis (TA) indicators, Finbold was able to arrive at a potential price range for Shiba Inu by the end of this year.
Specifically, OpenAI invention ChatGPT-4o suggests moderate growth to $0.00003 – $0.00005 by December 2024, based on moving average convergence divergence (MACD) and relative strength index (RSI), in line with PrimeXBT data that indicates bullish divergence on SHIB’s current MACD and neutral RSI.
Meanwhile, Claude 3 Opus, a recent AI model by Anthropic, has set the possible SHIB price in a $0.00004 – $0.00006 range, considering its historical chart patterns and growing mainstream adoption. Simultaneously, PrimeXBT’s trading volume data shows a steady increase, aligning with Claude’s positive forecast.
Finally, Grok by xAI, which combines real-time data from social media and investor sentiment, has offered a price range of $0.000035 – $0.000055, suggesting a possible price increase by factoring in SHIB whale transactions and high social media activity also recorded by PrimeXBT.
Shiba Inu price analysis
For now, Shiba Inu is changing hands at the price of $0.00002623, recording a decline of 5.30% in the last 24 hours but nonetheless advancing 3.14% across the previous seven days, and accumulating a gain of 11.59% over the past month, according to the most recent PrimeXBT data retrieved on May 30.
Indeed, as the PrimeXBT charts show, SHIB has bounced off the $0.00003 resistance zone, settling in the $0.000026 area, although this reversal is not critical, and the popular token might still continue upward, particularly as it trades higher than its 50-day exponential moving average (EMA) and above the support line for the last couple of weeks.
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.
That 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.
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