In the last few weeks, Shiba Inu Although a weak upward trend has been observed in the coin, the overall trend is sideways or bearish. A possible breakout indicates a large increase in Shiba Inu momentum.
Also, to learn more about the potential SHIB price trend in May, meme coinTo estimate the performance of , ChatGPT 4.0 was asked for its prediction.
In the rest of the news, artificial intelligence’s SHIB price prediction will be discussed.
Shiba Inu Price Performance
Over the last 30 days, SHIB price continues its downward trend with a negative return of 18%. The slight increase in selling pressure is strengthening the downtrend and trying to prevent the big rise in early March.
Despite the 18% decline in SHIB price over the last 30 days, the 4-hour (4H) chart reflects a triangle formation with a solid support trend line. It is possible that this is a sign of a potential rise. Currently, SHIB price is trading at $0.00002470. This level is close to the 50% Fibonacci retracement level and the support trend line and the $0.00002450 demand zone.
Meme coin appears to be trading close to multiple bullish catalysts. This increases the possibility of a reversal of the downward trend. If these support levels remain intact, a bullish breakout is possible. In this context, it is possible that SHIB price will surpass the peak of $0.00004382 and move towards $0.000050.
Prediction of Artificial Intelligence
Come May 2024, the price of the Shiba Inu is predicted to continue its current trend. If the mentioned support levels are maintained, a bullish breakout of the triangle formation may occur and the SHIB price may rise. However, this is only an estimate and caution should be taken when making investment decisions.
Detecting the symmetrical triangle formation, artificial intelligence predicts two potential scenarios for the meme coin. With a possible bullish breakout, SHIB price is likely to surge beyond the psychological $0.000050 mark.
