Machine Learning Algorithm States Potential Shiba Inu (SHIB) Price For October 31

We are just barely a few days gone in October, and it does not seem to be out of place for crypto enthusiasts to desire to know the worth of their favorite cryptocurrencies by the end of every new month. 

Shiba Inu (SHIB), despite deleting a zero in its market valuation sometime around August this year has since been shedding off profits, which is quite understandable as the overall crypto market seems engulfed in the prevailing bear market outlook.

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Consequent to the need to know what SHIB’s price would look like by the end of October, a machine-learning algorithm was consulted to give an insight into SHIB’s potential cost by the end of October. 

Machine Learning Algorithm Perspective On SHIB’s Potential Price

According to the machine learning model provided by PricePredictions, SHIB would be changing hands at the $0.000007260 price level on October 31. Based on SHIB’s current price of $0.00000718, it implies a 1.14% increase.

 

Meanwhile, it is worth noting that the machine learning algorithm came up with the above price protection by carefully analyzing significant market variables and indices. 

Amongst the analyzed market indicators, the significant ones include the average true range (ATR), Bollinger Bands (BB), moving average convergence divergence (MACD), and relative strength index (RSI).

Read Also: Why SHIB Price Not Rising Despite Shibarium Launch? Top Shiba Inu Team Member Answers

Shiba Inu (SHIB) Projected To Delete Two Zeros In Its Selling Price By 2031

Per a previously published report, DigitalCoinPrice, a renowned crypto-tracking platform, gave a long-term price analysis for SHIB, noting a gradual increase from 2023 to 2031. 

According to the prediction, SHIB could delete a zero by the end of this year, when it might be trading at an average value of $0.0000154. This represents an increase of about 114.5% from SHIB’s current price. 

Meanwhile, in 2031, when it was projected for SHIB to delete another zero, the digital asset average price would be $0.000107, implying an increase of about 1,390.3% from the digital asset’s price at the time of writing. 

Shiba Inu (SHIB) Latest Market Performances

According to Shiba Inu’s data on CoinGecko, the crypto asset boasts a market cap of $4,229,190,722 and a trading volume estimated at $67,668,063. Its market cap has seen it drop to 18th place despite maintaining positions above 16th position previously this year. 

Also, Shiba Inu still puffs a massive circulating supply of 589 trillion coins, which must be tackled with a significantly improved incineration rate to improve SHIB’s fortune.

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