Shiba Inu’s SHIB price trajectory has over some time now, emerged as a hot topic for debate among crypto enthusiasts and analysts. The dog-themed crypto asset has been projected to several price highs ranging from $0.001, $0.01, $0.1, and even to an over-ambitious $1 price level.
The reasons for the above hype and ridiculous price projections for SHIB’s future price movement are not far-fetched, as Shiba Inu is a work in progress with several launched and other impending projects aimed at enhancing and improving the coin’s overall outlook.
Read Also: Shiba Inu Path to $0.01: Implications Of Burning 50% Of SHIB Circulating Supply
While a $1 price mark projection for SHIB seems unrealistic, it is also pertinent to note based on basic crypto market principles, that SHIB must attain a support level at $0.5 before it could gather the momentum to achieve the $1 price level.
Having established the above facts, what is SHIB’s possibility of attaining the $0.5 price mark? At TimesTabloid, we consulted Bard, Google’s artificial intelligence (AI) chatbot, for its insight on SHIB achieving the $0.5 price mark.
Google’s Bard Insight – $0.50 For SHIB Possible?
According to Bard, SHIB attaining a $0.5 price level is highly impossible. However, some factors could likely drive the price surge. The chatbot noted that because of SHIB’s massive circulating supply pool, the coin’s market capitalization must ascend to $295 trillion, which seems impossible.
A drastic reduction in the token’s massive 589 trillion coin supply would be remarkable as it could make the market cap worth a realistic value for SHIB at $0.5 per coin.
In addition, the AI model highlighted that SHIB rising to such a high level would come with consequences, as the asset will become grossly volatile and could crash at any point.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Shiba Inu Profitability Surges As SHIB Price Reclaims Key Level
Google Bard Adds Other Factors
Per Bard, Shiba Inu (SHIB) lacks real-life applications, making it less attractive to potential investors. Shiba Inu Developers must devise means of tackling this peculiar problem to aid SHIB’s expansion.
Also, sentiments on SHIB have always been based on mere hype and widespread speculations. Bard noted that investors’ sentiments must tilt to the positive side, which entails assessing the asset based on unique values.
Global SHIB adoption by leading financial firms and the overall crypto market outlook were also highlighted. Bard concluded by spotlighting the positive influence of strong community support and engagement in propelling SHIB’s price.
At the time of writing, SHIB is trading at $0.00000713, with a market cap of $4,201,398,208 and a trading volume of $124,819,582, according to CoinGecko.
Follow us on Twitter, Facebook, Telegram, and Google News
