Within 2024 year token -meme Shiba Inu experienced significant volatility. January and February were marked by relatively flat price dynamics, followed by a sudden jump from $0,0000101 to a yearly high of $0,00003629. This 259,30% increase was the beginning of a downward trend that continued until September, when prices fell to $0,00001316.
At the time of publication, SHIB was trading at $0,00002755, up 1,6% on the day, with weekly losses remaining at 10,8%. Since the beginning of the year, the price of SHIB has increased by 154,90%.
SHIB price chart since the beginning of the year. Source: CoinGecko
To find out at what mark Shiba Inu will end the year, artificial intelligence tool Chat GPT -4o from OpenAI was tasked with investigating the information on this matter.
As a factor supporting the price increase, the AI highlighted the recent integration of fully homomorphic encryption (FHE), which increases the utility of the ecosystem and may help broaden the appeal of the token. In addition, recent spikes in the SHIB burn rate increase the scarcity of the token.
Finally, the growth of SHIB functionality and institutional interest are also identified as optimistic factors increasing the long-term potential of the project.
On the other hand, as GPT-4o noted, SHIB still relies heavily on social media and hype, and its reliance on market sentiment makes it vulnerable to sudden and often irrational swings.
OpenAI's model highlighted the high concentration of SHIB as a risk factor for price manipulation or flash dumps.
As for price targets, the model identified two — one for a bullish scenario and one for a bearish one. In the former case, GPT-4o predicted that SHIB could rise to $0,00006656, which is equivalent to a 155% increase from current prices. In the bearish scenario, the AI model set a target of $0,00002576, which is only 1,26% below the current SHIB price.
