With the vast popularity of Shiba Inu within the crypto space and thousands and thousands of investors holding the SHIB token, the direction of the value has at all times been an interesting and hotly debated topic. Expectations are that the meme coin will proceed to rise drastically as theme coins turn out to be a few of the frontrunners of the crypto market, and lots of analysts agree. Even a machine learning algorithm has predicted that the Shiba Inu price will surge in the following few days.
Machine Learning Algorithm Predicts 119% Surge
The CoinCodex machine learning algorithm, taking into consideration various indicators, has concluded that the Shiba Inu price is incredibly bullish from here. In keeping with the web site, sentiment toward the meme coin continues to be very bearish, which is generally a very good time to purchase and when a bounce is more likely. Addition the Fear & Greed Index continues to be sitting at a rating of 71 representing Greed. This implies more willingness amongst investors to place money out there.
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The predictions from the machine learning algorithm span various time periods, however the certainly one of interest is the 5-day prediction. As the information from the web site shows, the machine learning algorithm is expecting the Shiba Inu price to double in lower than one week.
Source: CoinCodex
On the time of writing, the Shiba Inu price continues to be skirting across the $0.000017 level, and the value prediction puts it at $0.00003839. Such a price increase for the SHIB price would mean a 119.45% increase in lower than per week.
Nevertheless, on an extended time-frame, which is 30 days, the machine learning algorithm expects the value to show bearish again. It puts it at a price of $0.00001686, which is a 3.66% decline from the present price. But can be an over 50% decline if the value does hit $0.00003839 in the following five days as predicted.
When Will Shiba Inu Reach A Recent All-Time High?
Despite the bullishness of the past 12 months, the Shiba Inu price has did not reclaim its 2021 all-time high of $0.00008845. Its current value puts it around 80% below this all-time high price, meaning that the meme coin still has an extended option to go before it sets a recent peak.
Source: CoinCodex
In keeping with the CoinCodex machine learning algorithm, investors within the Shiba Inu meme coin could also be waiting an extended time before this happens. The longer timeframe forecasts expect that the Shiba Inu price will hit a recent all-time high within the 12 months 2029 and rise as high as $0.000156. This is able to mean that it could take one other half a decade before those that bought at the height in October 2021 to see profit on their holdings again.
SHIB price heads toward recent each day highs | Source: SHIBUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com