Shiba Inu (SHIB) remains one of the most popular cryptocurrencies among retail investors due to its strong growth potential. As the cryptocurrency industry grows in popularity, investors are looking to predict the value of assets like SHIB. For example, artificial intelligence is already being used, with models based on various data sources, including historical prices, trading volumes, market capitalization, social media sentiment, and news items. .
AI models use machine learning techniques to evaluate large data sets and discover many patterns that help predict future trends. Finbold compiled estimates based on CoinCodex’s machine learning technology to predict the price of SHIB by the end of 2023. Therefore, by December 31, 2023, SHIB is expected to trade at $0.00008451.
forecast price SHIB end of 2023 | Source: CoinCodex
Interestingly, the forecast reflects a -34% decline from its value at the time of writing. However, it is important to remember that these forecasts are subject to change based on market conditions and other unforeseen events.
SHIB is currently trading at $0.00001525, up only about 0.05% on a daily basis, but down more than 5% on a weekly basis.
price chart SHIB 4 hours | source: Transaction View
The one-day indicator for SHIB is a mixed bag on TradingView. Summary is neutral at 9, oscillators point to neutral at 8, and moving averages suggest a buy at 9.
measure SHIB 1 Day | Source: TradingView
Overall crypto adoption trends are one potential aspect that could affect the future price of SHIB. If more people are interested in cryptocurrencies and want to invest, the demand for SHIB may increase, causing the price to increase.
Additionally, any major developments or partnerships involving SHIB can add value. For example, the Shiba Inu community is looking forward to the release of Shibarium, a layer 2 scaling solution. While no release date has been confirmed yet, Shibarium is one of the most anticipated events due to the benefits it will bring to the network.
This improvement is expected to benefit the ecosystem by making transactions faster and cheaper. In addition, it will cooperate with Ethereum to conduct transactions in the Shibarium ecosystem, thereby reducing the overall burden.
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according to Kyptos