Google Bard and Microsoft Bing, two of the most prominent AI chatbots, evaluate Shiba Inu chances of hitting $0.001.
Shiba Inu (SHIB) has dropped below four major psychological support levels over the past few weeks. The prevailing market turbulence has tested investors’ confidence, contributing to a case of growing angst. Amid these unfavorable conditions, AI chatbots, Google Bard and Microsoft Bing, evaluate Shiba Inu’s chances of hitting $0.001.
SHIB collapsed below $0.00001 on May 6 and $0.000009 on May 23. The asset also broke below the $0.000008 and $0.000007 levels on June 10 in the aftermath of the SEC’s charges against Binance and Coinbase. Currently trading for $0.00000661, the last time Shiba Inu saw this price level was in September 2021.
At its current price, Shiba Inu would need to increase by 15,028%, or 150 times, to hit the much-coveted $0.001 price territory. The more the asset declines, the further it is from the goal. This bearish situation has elicited uncertainty regarding SHIB’s ability to hit this target. But what do Microsoft’s Bing and Google’s Bard say?
Bing Says It is Possible but Unlikely
We asked Microsoft Bing, “Is it possible for Shiba Inu to reach $0.001?” The AI chatbot’s response was straightforward and devoid of convolutions. According to Bing, Shiba Inu is “very unlikely” to surge by that much, given its extensive circulating supply.
Bing analyzed SHIB’s tokenomics, including the sentiment surrounding the overall ecosystem. The chatbot also evaluated Shiba Inu’s current value and recent price movements. Based on these, Bing concluded that, while it is unlikely for SHIB to hit $0.001, the possibility cannot be ruled out. “It is not impossible for SHIB to reach that level someday,” it concluded.
Bard Shares Similar Sentiments
We asked Bard the same question, and the answer was similar to what Bing stressed. “It is possible for Shiba Inu to hit $0.001, but it is highly unlikely,” Bard said. In this evaluation, the AI bot considered Shiba Inu’s current circulating supply and market cap.
Bard pointed out that SHIB currently boasts a market cap of $3.89 billion. Due to its massive supply, soaring to a high of $0.001 would put Shiba Inu’s market cap at $583.9 billion. For context, Bitcoin has a market cap of $503 billion, while Ethereum’s market cap stands at $209.98 billion.
Conditions for a Shiba Inu Surge
Unlike Microsoft’s Bing, Bard further outlined several conditions for SHIB to hit $0.001. According to Bard, Shiba Inu would need more demand to have a chance at the price target. “This could be driven by increased adoption by businesses or by a surge in popularity among retail investors,” Bard noted.
Secondly, Bard suggested that SHIB’s supply would need to reduce drastically. The bot called attention to burns and how increased incineration rates can help give Shiba Inu ample support. However, Bard emphasized that even with increased demand and a reduced supply, it is not guaranteed that SHIB will hit $0.001.