Shiba Inu Price Prediction: Will it Continue to Recover?
The CoinCodex machine learning algorithm has made a prediction for the future price of Shiba Inu (SHIB). While the meme coin has been experiencing some upside, the algorithm expects a retrace in the near term. However, it remains bullish on SHIBโs long-term prospects.
Short-Term Prediction: Bearish Outlook
According to the machine learning algorithm, Shiba Inuโs price is expected to drop by 6% in the next five days, reaching $0.0000089. This forecast contradicts the current market recovery trend.
Long-Term Prediction: Bullish Outlook
Despite the short-term decline, the algorithm predicts that SHIB will recover and surpass the $0.00001 mark in the coming month, indicating a more than 10% increase from its predicted low for February.
Can SHIB Reach $1?
The discussion surrounding Shiba Inuโs potential to reach $1 has persisted among investors. However, due to its large supply, the machine learning algorithm does not foresee SHIB reaching this milestone in the near future. It predicts subpar performance and sets SHIBโs highest point in 2025 at $0.00002029.
Hot Take: Limited Upside for SHIB
Currently, SHIBโs price is showing limited upside with only a 1.78% increase in the last 24 hours. Its market cap stands at $5.69 million, positioning it as the 17th-largest cryptocurrency in the market.
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