The introduction of the text-based artificial intelligence (AI) platform ChatGPT is transforming a number of industries, including trading by assisting analysts in activities like predicting potential cryptocurrency price peaks. Even while the tool’s understanding of recent developments in the crypto sector is still limited, it can provide a preview of what to come.
Finbold specifically requested that ChatGPT forecast the price of the meme cryptocurrency Shiba Inu (SHIB) in 2030. In fact, the tool acknowledged that it is difficult to provide a precise price for SHIB given the volatility of the cryptocurrency market.
However, the AI tool noted that SHIB’s price may be influenced by network growth and the forecast for the wider cryptocurrency market.
The performance of the cryptocurrency market, the progress of the SHIB project, and the state of the economy as a whole will all have an impact on the price of SHIB. Any forecasts made on the future price of SHIB are solely hypothetical because the cryptocurrency industry is so unpredictable and volatile, according to ChatGPT.
Notably, the program may be used to automate repetitive chores like price monitoring and trading under specified conditions even though it is still in the experimental stage.
The SHIB’s price for the upcoming weeks has also been established at the same time by the AI technology at PricePredictions. The tool that uses a machine learning algorithm predicts that on February 28, SHIB’s price will correct to trade at $0.000012.
It’s important to note that the prediction made by ChatGPT concurs with those of SHIB proponents who think that more network development is necessary to provide the token greater use in order for the asset to rise. Notably, the token has faced criticism for being unusable ever since its creation and ascent.
In order to raise the asset’s price, Shiba Inu developers have planned a number of actions, including the faster burning of tokens. The community is preparing for the layer 2 protocol known as Shibarium at the same time.
Analyses of Shiba Inu prices
SHIB has often been among the top gainers in the 2023 crypto market, but the current lull in market enthusiasm seems to have undermined the token’s pace. As of the time of publication, SHIB was down more than 7% over the previous 24 hours, trading at $0.00001234.
The one-day technical analysis of the funny coin on TradingView provides conflicting indications. The oscillators and gauges are in alignment with neutrality gauges at 9 and 8, respectively.
In fact, the asset’s technical indicators showed hints of growth before the negative trendline appeared, and a potential bull pennant break out in the near future might position the asset to hit $0.017.