AI Predicts SHIB Price For May 1, 2024

The cryptocurrency market continues to maintain volatile momentum, and the famous dog-themed meme coin “Shiba Inu (SHIB)” is no exception. Machine learning and artificial intelligence (AI) algorithms predict further advances in the “Dogecoin (DOGE) killer” in the near future.

According to the latest data obtained from a cryptocurrency analysis and prediction platform price predictionan advanced price prediction algorithm predicts the Shiba Inu price to reach $0.00003 by May 1, 2024.

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Based on indicators such as Bollinger Bands (BB), Average True Range (ATR), Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD), the forecast calls for SHIB’s price to rise by 19.5% from the current point. Masu. Right now.

Shiba Inu cost performance

Shiba Inu has achieved impressive results in recent weeks, closing in on its main competitor Dogecoin in terms of market capitalization. However, the recent market downturn has also affected SHIB.

Based on the latest data, SHIB is trading at $0.0000251 at the time of writing, representing a decline of 7.6% in the past 24 hours and 14% in the past 30 days.

sauce: CoinGecko

Also read: Cryptocurrency: Top 3 coins to buy now for 10x returns in 2024

Bearish mood surrounding SHIB

As for the feelings surrounding Shiba Inu, shown According to the Technical Analysis (TA) gauge, it is neutral. The 1-week and 1-month gauges rate SHIB as a “Buy”, while for the 1-month period the oscillator is in the “Buy” zone at 2 and the moving average (MA) is at 8, indicating a “Strong Buy”. Masu.

Machine learning algorithm price prediction and this negative sentiment indicate that Shiba Inu may not show significant growth in the coming weeks.

Also read: Predicting Shiba Inu will weigh 8 cents: When?

Shiba Inu’s bearish performance and predictions made by machine learning algorithms paint a promising picture for the future of meme tokens. Given the nature of current market conditions, SHIB investors and enthusiasts should be cautious.

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