Shiba Inu Price Prediction: Machine Learning Algorithm Reveals December Target
November 11 2023 - 12:00PM
NEWSBTC
The crypto market has experienced somewhat of a resurgence in
recent times. Shiba Inu (SHIB) happens to be one of the
altcoins that many seem to have their eyes on during this period.
And if the prediction of this machine learning algorithm is
anything to go by, it would seem that these SHIB holders are well
positioned for more profitable times ahead. SHIB’s Projected Price
By December According to data from the price prediction algorithm
on the crypto analytics platform CoinCodex, SHIB’s price is
predicted to hit $0.000009534 by December 11. Such price action
will represent about a 10% increase from its current price.
Related Reading: Bitcoin Ready To Take-Off? Analyst Who Predicted
$37,000 Reveals What’s Next Meanwhile, the sentiment around the
token continues to be bullish, which suggests that many expect the
token to rally further despite the impressive gains it has already
recorded. With such a bullish sentiment, CoinCodex’s
prediction seems more attainable as the ecosystem could see more
whales and retail investors jump in on the token. If that happens,
it could further add to the buying pressure, an important metric to
determine if SHIB could continue riding on this momentum to attain
CoinCodex’s prediction by December. In line with the bullish
sentiment, CoinCodex noted that 24 technical analysis indicators
are signaling bullish signals, with only a mere 4 indicators
signaling bearish signals. Based on its forecast, the platform
predicts that now remains a good time to buy the meme coin despite
the impressive gains it has already recorded. Another
important metric that CoinCodex highlighted was the fact Shiba
Inu’s RSI value currently stands at around 63.05, indicating that
the token is neither oversold nor overbought. As to the exact time
to buy the token, investors might be able to take a cue from
CoinCodex’s five-day prediction as the platform expects a
correction to around $0.000008008. The Fundamentals Are
Aligning For Shiba Inu The Shiba Inu ecosystem has continued to
record interesting developments that suggest that the fundamentals
are as bullish as the charts and technical analysis. Most recently,
the SHIB non-custodial wallet was launched in a bid to promote the
ecosystem’s vision of a decentralized state and enhance the crypto
experience of Shibizens. Related Reading: MicroStrategy’s
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Interestingly, the wallet is equipped with certain features that
address the fears of using a non-custodial wallet. One of them
happens to be a feature that allows users to recover their tokens
even if they were to forget their seed phrase. The wallet also
integrated Web3Auth to make the user onboarding experience
effortless and straightforward. At the time of writing, SHIB is
trading at around $0.000009465, up by over 14% in the last 24
hours, according to data from CoinMarketCap. SHIB crosses
$0.0000092 | Source: SHIBUSD on Tradingview.com Featured image from
Times Tabloid, chart from Tradingview.com
SHIBA INU (COIN:SHIBUSD)
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