According to PricePredictions’ machine learning algorithm, Shiba Inu (SHIB) will continue to decline for the remainder of September 2023. According to the platform’s prediction, SHIB will drop by 1.22% to $0.000007278 on September 30. The AI also predicts that SHIB will continue to decline until at least mid-October.
PricePredictions popular meme coinWhile he says that will continue its decline, Changelly predicts that the token will rise to $0.000007910 on September 30. This represents an increase of approximately 7.4% from current levels.
Which Direction Will the Shiba Inu Go for the Rest of 2023?
While it is unclear which direction SHIB will go, there is also a possibility that the token will consolidate at its current price point. SHIB has been on a downward trend since February this year. The highly anticipated Shibarium launch also did little to boost the asset’s price.
In addition, larger crypto- The market is also in decline. This also adds to the Shiba Inu (SHIB) woes. Until Bitcoin (BTC) makes a move for the better, meme coins like SHIB are unlikely to see strong performance anytime soon.
However, BTC’s halving event is planned to occur in April 2024. Historically, halving events have often led to a bull run.
Investors expect a similar pattern for the 2024 halving. The SEC will also likely announce its decision regarding various spot BTC ETFs early next year. If SEC approves spot BTC ETF, BitcoinIt will further increase the chances of (BTC) bull run. It is possible that a Bitcoin (BTC) bull run could trigger other tokens as well.
At the time of writing, SHIB is trading at $0.00000736, up 1.1% in the last 24 hours.