thecryptobasic.com
Opinions from market experts and AI chatbots have projected possible Shiba Inu price over the next six months.
Notably, Shiba Inu has been caught up in the recent market-wide correction, which sprang up on the back of reports around an alleged investigation into Tether by the U.S. DoJ. Notably, Tether has debunked these claims, with the market recovering slightly.
Shiba Inu Sentiments Remain Bullish Despite 12 Weekly Drop
Despite the recovery, the market is still facing losses, with SHIB down 3.26% over the past 24 hours. Further, Shiba Inu has collapsed by a more extensive 11.9% rate in the last seven days. This reflects a downtrend in the broader market, with only Solana and Tron seeing gains among the top 20 assets.
However, sentiments remain on the green side, as investors anticipate the resumption of the bull market’s run. Particularly, data from CoinMarketCap confirms that Shiba Inu community sentiment is 88% bullish. This data stems from 36,744 votes from community members.
Amid the prevalent bullish sentiments, opinions vary on Shiba Inu’s potential price target over the next few months. Notably, a recent report from crypto exchange resource Changelly suggests that the trajectory might be mildly bullish.
Changelly Predicts Shiba Inu Price in the Next Six Months
In the report, analysts are Changelly reaffirmed the bullish sentiments around Shiba Inu, which they pegged at 90%. They also confirmed that the SHIB Fear and Greed Index (FGI) currently sits at 65, indicating greed among investors.
With Shiba Inu now changing hands at $0.00001688, Changelly analysts expect the dog-themed token to end October at a price of $0.00001908, a 13% rise from current levels. However, they believe SHIB would correct in November and December, potentially ending 2024 below $0.000019.
Interestingly, these analysts believe Shiba Inu’s bullish momentum would materialize in 2025. Nonetheless, they do not expect a straightforward rally. Ultimately, the report suggests that SHIB might trade at an average price of $0.00003510 in April 2025, six months from now. This would mark a 107% rise from the current price.
ChatGPT Predicts Shiba Inu Price in the Next Six Months
Meanwhile, AI chatbot ChatGPT is more bullish on Shiba Inu. When asked, ChatGPT presented three speculative scenarios for Shiba Inu price over the next six months. It believes a broader market rally could catalyze a Shiba Inu rally to a range of $0.000025 to $0.000030 by April 2025.
However, the chatbot noted that progress around the Shiba Inu ecosystem, involving Shibarium or other projects, could push the price further up. In this scenario, ChatGPT expects Shiba Inu to hit a range of $0.000030 to $0.000040 in the next six months.
Lastly, ChatGPT considered the possible impact of broader macroeconomic conditions. Should more liquidity flow into the crypto market as a result of these macro conditions, the chatbot sees SHIB reaching between $0.000040 and $0.000050 next April.
A rally to $0.00004 would demand a 137% rise from Shiba Inu’s current price. However, the altcoin would need to spike 196% to clinch the $0.00005 price. Despite the progressive nature of these projections, it is important to note that they are not guaranteed.