It is no longer news that Shiba Inu seemed to drown in the bearish stronghold that has crumbled almost every aspect of the crypto assets market. While other crypto assets’ market performance may look fair, Shiba Inu’s market activities have not been impressive, making potential investors look for other alternatives elsewhere.
In the latest development on Shiba Inu, Microsoft Binge, an Artificial Intelligence (AI) model, has collected data from different sources, especially crypto authority websites, to come up with an insight into the market selling price for Shiba Inu.
What Is Microsoft’s AI Saying About Shiba Inu (SHIB) Price For June?
According to the AI model, there have been varying price predictions concerning SHIB’s prices for June. The machine acknowledged input from optimistic and pessimistic sources and finally concluded on an average of $0.000011 selling price for Shiba Inu in June.
In addition, the machine listed three significant factors that could impact Shiba Inu’s market performance. Bing AI highlighted the development of the Shiba Inu ecosystem, the overall sentiment in the crypto market, and the SHIB burn rate.
Developments in Shiba Inu Ecosystem: What This Entails
Bing AI highlighted several ongoing projects in the Shiba Inu ecosystem. These projects include SHIB cold wallets, Shibarium, the layer-2 network, and a more advanced Shiba Inu metaverse. Bing AI says these highlighted projects will significantly influence SHIB coin prices.
Most importantly, positive reviews from most of Shiba Inu’s ongoing project implies that the token will attract users, resulting in a new price high.
In addition, the latest ranking by CertiK, a pioneer in blockchain security which utilizes best-in-class formal verification and AI technology to secure and monitor blockchain projects and decentralized applications, revealed a marked improvement in Shiba Inu’s metaverse security.
Impacts of The Crypto Market Overall Sentiment
Microsoft’s artificial intelligence model spotlighted how crypto investors’ opinions could affect the SHIB token price. Bing AI noted, “If the overall market sentiment is positive and there is a high demand, Shiba Inu’s price may rise as more investors buy and hold the token.”
The chatbot also noted that positive opinions and reviews from crypto users would undoubtedly increase SHIB’s adoption, leading to an upswing in the token’s pricShie.
Shiba Inu (SHIB) Burn rate
Finally, the AI tool identified Shiba Inu’s enormous 589,340,789,094,095 circulating pool as a significant impeding factor limiting the token’s price. Binge maintained that a drastic reduction in SHIB’s circulating supply would prove positive for Shiba Inu’s future selling price.
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