shiba inuDespite the volatility in the cryptocurrency market, it is having a hard time recovering from the bears’ influence. Investors believe the price has bottomed out, while some expect further declines. However, Microsoft’s Bing AI chatbot made some guesses based on different sources.
Bing stressed that there are various estimates of the future price of SHIB in numerous sources on the internet, and some sources are more optimistic than others. That said, the average price for the Shiba Inu in June was $0.000011.
Artificial intelligence has detected that there are many different factors that can influence Shiba Inu price movements. These include sensitivity to the cryptocurrency market and the development of the ecosystem. However, another detail is the increase in the burning rate.
Shiba Inu and Sensitivity in the Cryptocurrency Market
According to Bing, the most important detail that will determine the direction of the price of the Shiba Inu cryptocurrency general sentiment in the market. If the general sentiment is positive and increases demand, it will mean things are getting better. On the contrary, there will be a negative outlook that will decrease the price.
According to artificial intelligence, increasing demand is an important starting point that will also increase mass adoption. This is one of the most important factors that will determine the course of the price.
As Koinfinans.com reported, the community and developers are working to make SHIB more than just a meme coin. The next two most important developments, Shibarium and The Metaverse, continue to be eagerly awaited. If these projects have the expected effect, they will increase demand and find a positive response in price.
You can follow the current price action here.
Source : The Crypto Basic