Machine Learning Algorithm Predicts Shiba Inu Price Will Rise 119% In 5 Days
24 Julio 2024 - 9:30PM
NEWSBTC
With the vast popularity of Shiba Inu in the crypto space and
millions of investors holding the SHIB token, the direction of the
price has always been an interesting and hotly debated topic.
Expectations are that the meme coin will continue to rise
drastically as theme coins become some of the frontrunners of the
crypto market, and many analysts agree. Even a machine learning
algorithm has predicted that the Shiba Inu price will surge in the
next few days. Machine Learning Algorithm Predicts 119% Surge The
CoinCodex machine learning algorithm, taking into account a number
of indicators, has concluded that the Shiba Inu price is extremely
bullish from here. According to the website, sentiment toward the
meme coin is still very bearish, which is usually a good time to
buy and when a bounce is more likely. Addition the Fear & Greed
Index is still sitting at a score of 71 representing Greed. This
means more willingness among investors to put money in the market.
Related Reading: Crypto Analyst Says XRP Is Still On Course To Rise
To $150 The predictions from the machine learning algorithm span
various time periods, but the one of interest is the 5-day
prediction. As the data from the website shows, the machine
learning algorithm is expecting the Shiba Inu price to double in
less than one week. At the time of writing, the Shiba Inu price is
still skirting around the $0.000017 level, and the price prediction
puts it at $0.00003839. Such a price increase for the SHIB price
would mean a 119.45% increase in less than a week. However, on a
longer time frame, which is 30 days, the machine learning algorithm
expects the price to turn bearish again. It puts it at a price of
$0.00001686, which is a 3.66% decline from the current price. But
would be an over 50% decline if the price does hit $0.00003839 in
the next five days as predicted. When Will Shiba Inu Reach A New
All-Time High? Despite the bullishness of the past year, the Shiba
Inu price has failed to reclaim its 2021 all-time high of
$0.00008845. Its current value puts it around 80% below this
all-time high price, meaning that the meme coin still has a long
way to go before it sets a new peak. According to the CoinCodex
machine learning algorithm, investors in the Shiba Inu meme coin
may be waiting a long time before this happens. The longer
timeframe forecasts expect that the Shiba Inu price will hit a new
all-time high in the year 2029 and rise as high as $0.000156. This
would mean that it would take another half a decade before those
who bought at the peak in October 2021 to see profit on their
holdings again. Featured image created with Dall.E, chart from
Tradingview.com
SHIBA INU (COIN:SHIBUSD)
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