Most assets in the cryptocurrency market are still in an upward trend. Therefore, the famous meme coin Shiba Inu (SHIB) has also joined this upward trend. Artificial intelligence (AI) algorithms predict that SHIB will make further progress as the “Dogecoin (DOGE) killer” in the near future.
In particular, the advanced price prediction algorithm at the crypto analysis and prediction platform PricePredictions expects the price of the Shiba Inu to rise further, reaching $0.000043 from March 5th by March 31st, 2024.
Indeed, if the algorithm using indicators such as Bollinger Bands (BB), average true range (ATR), relative strength index (RSI), moving average convergence divergence (MACD), etc. is correct, this will result in a 11.54% drop in SHIB’s price from its current amount. is likely to indicate an increase.
Shiba Inu Price Analysis
Recently, SHIB has become its rival in terms of market capitalization. dogecoinIt came pretty close to . It is currently ranked as the tenth largest asset in the crypto space.
According to the latest data, SHIB is trading at $0.0000385525. It recorded an increase of 42.59% in the last 24 hours. It has increased by a whopping 272.55% in the previous seven days. During the past month, there was an increase of 327.34%.
Meanwhile, Shiba Inu’s technical analysis (TA) indicators are also extremely bullish. Both 1-week and 1-month indicators are rated ‘strong buy’. The 1-week indicator is based on oscillators in the ‘buy’ zone, while the 12-day moving average (MA) indicates ‘strong buy’.
In conclusion, meme coin It is indeed possible that AI will fulfill its predictions. In addition, it is possible that the recent increase in the burning rate may make it easier to achieve this goal.
However, it is important to remember that things can change suddenly in this sector. It is therefore very important to keep abreast of relevant developments, conduct your own research and carefully weigh all risks before investing a significant amount of money in any asset.
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