As 2024 begins, the cryptocurrency gains draw attention, and Shiba Inu (SHIB) has positioned itself favourably. With ongoing gains and rising expectations of a Bitcoin ETF, investors are curious about the potential price point it could reach by the end of January.
AI’s Anticipation for SHIB’s Future
Given recent price shifts, artificial intelligence has been consulted anew. CoinCodex’s algorithms have generated a price projection for SHIB at January’s conclusion. The distinctive feature of algorithms lies in their capacity to analyze numerous scenarios concurrently. In this instance, the algorithm assessed potential situations investors might encounter in January, considering evolving market conditions.
Based on Coincodex’s algorithm, there’s a projection that SHIB might reach $0.00001038 by January 31, indicating a 4.24% decrease from the current price.
However, some cryptocurrency experts express optimism, suggesting a potential 710% increase and a trading level surpassing $0.000088598, citing parallels with SHIB’s past performance.
Analysis of SHIB’s Price
As of now, SHIB is priced at $0.00001085, reflecting a 0.37% decline in the last 24 hours. Over the past week, the altcoin has gained 1.32%, and in the last 30 days, it has seen a notable 27.88% increase.
Notably, SHIB’s 24-hour trading volume surged by 86% to reach $164 million. The overall volume also rose by 1.43%, exceeding $6.2 billion.
The trajectory of SHIB in the coming month hinges on developments in the Shibarium network, influenced by broader cryptocurrency trends and the macroeconomic environment.
