ChatGPT predicts Shiba Inu Price

ChatGPT predicts Shiba Inu Price. Shibarium, a Layer-2 blockchain, has gone a long way in improving scalability and transaction efficiency.

In tandem with this, the project announced the launch of a stablecoin which is to be pegged at $0.01, in a move that could serve to broaden SHIB’s appeal.

Throughout 2024, Shiba Inu has experienced significant volatility. January and February were marked by relatively flat price action.

Followed by a sudden surge from $0.0000101 to a yearly high of $0.00003629.

This 259.30% rally marked the beginning of a downtrend that lasted until September, with prices receding to as little as $0.00001316.

ChatGPT predicts Shiba Inu Price

SHIB was trading at $0.00002633 — having marked a 6.75% loss on the weekly chart which brought monthly returns down to just 0.24%.

On a year-to-date (YTD) basis, SHIB prices have increased by 154.90%.

ChatGPT predicts the Shiba Inu Price model highlighted the recent integration of fully homomorphic encryption (FHE).

This factor improves ecosystem utility and could serve to broaden the token’s appeal.

In tandem, it mentioned the recent surges in SHIB’s burn rate as a possible catalyst for higher valuations, as the mechanism ensures scarcity.

GPT-4 predicted that SHIB still relies heavily on social media and hype. And that such a dependency on the market sentiment makes it vulnerable to sudden and often irrational fluctuations.

Regulatory risks were also mentioned — although this is a factor that, broadly speaking, applies to all cryptocurrencies.