Shiba Inu (SHIB) is currently trading at $0.000007337. Despite the 1.29% increase in the last 24 hours and 2.45% increase in 7 days, SHIB is still down about 13% from last month.
Despite the successful Shibarium relaunch, the meme coin is not performing as expected. This anomaly has left traders puzzled because just a few days after launch, Shibarium had over 1 million users and processed over 1 million transactions.
With an uncertain future for updates and new developments, the SHIB community is now looking toward machine learning algorithms and other advanced tools for predictions of SHIB’s future.
We recently covered ChatGPT’s prediction for when SHIB would reach $0.9. Now, let’s look at a different machine-learning algorithm for insight into the meme coin’s future.
Pricepredictions.com hosts a machine-learning algorithm that provides market predictions based on the cryptocurrency’s history. Data from pricepredictions.com suggests that SHIB will be trading at $0.0000073 at the beginning of October, this implies little or no change compared to current prices.
This prediction is based on an in-depth analysis done by a machine learning algorithm and has the trust of many investors in the market. The machine learning algorithm considers the relative strength index (RSI), the moving average convergence divergence (MACD), the average true range (ATR), the moving weighted average (MWA), and Bollinger bands to make predictions.
Is this Bad News for SHIB?
This prediction isn’t good news but it isn’t bad news either. At its current price of $0.000007337, the prediction will leave it close to the same level. This means SHIB will drop 0.504% to meet the predicted price of $0.0000073 by the first day of next month.
The community won’t appreciate SHIB’s lack of action. With increased interest from the communities in certain countries, many investors are hoping for the price of SHIB to start rising again.
Another solution could be increased burns. Shiba Inu already experienced a small spike in price as the burn rate increased recently. If this continues, we could see SHIB surpassing its predicted price point for the beginning of next month.
However, Shiba Inu’s lead developer has said that burns are insufficient and adoption must increase. If SHIB can gain viable adoptions, that would be an open door for the desired price spike for the anticipating community.