ChatGPT Predicts Shiba Inu (SHIB) Price For May: What’s In Store For The Memecoin

Potential demand is rising, and part-time traders and institutional investors are predicting a bullish recovery. Surprisingly, the top choices for the best performers are meme coins such as Dogecoin and Shiba Inu, which are known for large price increases.

Despite a weak bullish trend over the past few weeks, the overall trend for the SHIB token is sideways bearish. A potential breakout could cause Shiba Inu Coin price to gain momentum and rise significantly.

Moreover, to gain further insight into the potential SHIB price trend in May, we have predicted Memecoin performance with reference to ChatGPT 4.0.

Check out the current performance and dive into ChatGPT’s SHIB price prediction one month after the Bitcoin halving.

SHIB price performance

The SHIB price trend reflects an increasing bearish influence, as the past 30-day return was -18%. A slight increase in selling pressure has led to a downtrend, threatening to weaken the strong rally seen in early March.

trading view

However, the 4H chart reflects a triangle formation with a solid support trendline, giving the possibility of a bullish reversal. Currently, SHIB price is trading at $0.00002470, close to the 50% Fibonacci level, support trend line, and demand zone at $0.00002450.

Since Memecoin is trading close to multiple bullish triggers, a reversal could occur in the future, suggesting a bullish break. Such a breakout could cause SHIB price to break through the peak of $0.00004382 and cross $0.000050.

To see the price chart analysis, we asked ChatGPT to predict the SHIB price trend in May. Here’s what AI predicted for his Shiba Inu in May 2024:

ChatGPT’s bullish view on Shiba Inu coin price

Detecting the symmetrical triangle pattern, the AI ​​predicts two potential scenarios for meme coins. A possible bullish break could cause SHIB price to surge above the psychological mark of $0.000050.

conclusion

So, technical analysis and ChatGPT price prediction share a similar bullish view, hinting at a possible break above the psychological mark of $0.000052.

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