AI Predicts SHIB Price by March 31, 2024
Date: 2024-03-05 Author: Dima Zakharov Categories: BLOCKCHAIN
Artificial intelligence (AI) has made a bold prediction regarding the price of the Shiba Inu (SHIB) coin by March 31, 2024. With the majority of assets in the cryptocurrency sector still in a bullish trend, various experts and analysts in the crypto space are making inspiring forecasts.
PricePredictions, utilizing machine learning algorithms, tasked themselves with forecasting the meme coin's price by March 31, 2024. According to their predictions, the token is expected to reach $0.000043 by the end of the month.
Price Forecast for SHIB in 1 Month
Taking into account indicators such as Bollinger Bands (BB), Average True Range (ATR), Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and more, the algorithm suggests an increase in SHIB by 11.54% from its current value if proven accurate.
Shiba Inu Price Analysis
In recent weeks, Shiba Inu has achieved remarkable results, nearing Dogecoin in market capitalization. With an incredible price surge, SHIB has secured the eleventh position in the overall cryptocurrency rankings.
Currently trading at $0.00003859 with a daily growth of 44%, SHIB has seen a significant increase of 281% over the past seven days and 327.34% over the last month according to CoinGecko data.
Technical Analysis Sentiment
Technical analysis indicators reflect a highly optimistic sentiment towards SHIB, indicating a "strong buy" on both the 1-week and 1-month indicators.
Factors Impacting SHIB Price
The increased burning rate and growing activity on the second-layer blockchain Shibarium are expected to support SHIB's price growth. However, investors are reminded to conduct thorough research and evaluate risks before investing in any asset, given the volatile nature of the sector.
