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An AI application has revealed that Shiba Inu (SHIB), one of the popular meme tokens, could record a remarkable all-time high (ATH) in the coming year.
This forecast creates a sense of hope among investors who HODL the crypto asset for a possible increment in market value. Also, it could encourage more crypto enthusiasts to consider diversifying their portfolio with more SHIB tokens, anticipating high returns and triggering a rally for SHIB.
ChatGPT Predicts SHIB’s Market Price to Surpass $0.00008845
ChatGPT, a trending AI chatbot, has made a positive prediction for the price of Shiba Inu in the forthcoming year, 2024. The chatbot projects that SHIB’s price will surge impressively in 2024, possibly recording a new all-time high.
It implies the meme coin could surpass the $0.00008845 all-time high recorded on October 28, 2021. However, besides ChatGPT’s ATH prediction for Shiba Inu in 2024, the AI application also made other positive predictions for the same crypto asset.
SHIB is currently the 16th biggest crypto asset by market cap and the 31st by trading volume. According to ChatGPT, SHIB will record an enormous adoption rate in 2028 with an astonishing utility, resulting in a significant return on investment (ROI).
The same AI tool forecasted that SHIB must have developed and stabilized its position by 2032. Moreover, it is projected that in 2050, SHIB could only record substantial growth in market value if SHIB maintains its positive adoption rate.
However, ChatGPT pointed out that the crypto market is highly predictive and speculative, and forecasting future prices for the next decades and above is challenging.
SHIB Nosedived with 91% Price Loss from the Recorded ATH
Data from CoinGecko shows that SHIB value today is $0.00000756 at 07:13 AM EST, representing a price decline of less than 1% from the previous 24 hours’ value. Meanwhile, since SHIB set the all-time high record of $0.00008845 on October 28, 2021, it has plummeted significantly in market value, with a 91.13% price loss.
Following the massive decline recorded thus far, Shiba Inu hitting a new ATH in 2024 could be difficult. However, the SHIB community is optimistic that burning enough SHIB tokens could make its value skyrocket.
However, Shytoshi Kusama, one of the top developers at Shiba Inu’s network, has a different opinion. According to Kusama, embarking on activities that could boost SHIB’s adoption is quite profitable.
He noted that SHIB burn alone would not be sufficient, but considering other factors that boost its price is valuable.
Again, Kusama stated that boosting the adoption of the asset will require the SHIB community and project team to draw people’s interest in using the network’s related products, including Shibarium.
A report shows that the Shibarium has garnered significant user attention since its mainnet launch. The layer-2 network has recorded about 1.4 million transactions and 1.12 million wallet addresses.
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