ChatGPT has released new forecasts for Shiba Inu, predicting that the canine-themed cryptocurrency could hit a new all-time high by next year.
Popular AI chatbot ChatGPT has made a few positive projections for Shiba Inu’s (SHIB) price. According to the AI chatbot, Shiba Inu will skyrocket massively next year, possibly reaching a new all-time high (ATH).
“2024: The price [of SHIB] could be higher than it is in 2023, possibly reaching a new ATH,” the chatbot projected.
Recall that SHIB’s previous all-time high of $0.00008616 was recorded on October 28, 2021.
Other ChatGPT Predictions
Aside from predicting that SHIB could hit a new ATH in 2024, ChatGPT also made other positive projections for the 15th largest cryptocurrency.
Per the chatbot, Shiba Inu will record tremendous growth in adoption and utility by 2028, leading to substantial gains.
By 2032, ChatGPT predicts that Shiba Inu might have gained maturity and solidified its position. In addition, the chatbot speculated that if the canine-themed cryptocurrency continues to achieve widespread adoption by 2050, its price could increase substantially.
“However, it is essential to remember that the cryptocurrency market is highly speculative, and predicting prices decades ahead is extremely challenging,” it added.
This is not the first time ChatGPT will make favorable predictions for SHIB. Last month, the chatbot projected that SHIB could hit the coveted price of $0.1 by 2029.
SHIB Down 91% From Previous ATH
It is worth noting that SHIB’s previous all-time high of $0.00008616 was recorded on October 28, 2021. However, the crypto asset has been down 91.13%.
At press time, SHIB was trading at $0.00000765, up 0.1% over the past 24 hours, according to data from CoinGecko.
The possibility of SHIB hitting a new ATH by 2024 could seem like a daunting task, given the current performance of the crypto asset.
Although the community believes that burning a huge portion of SHIB’s circulating supply would result in a massive spike in price, Shiba Inu’s lead developer, Shytoshi Kusama, thinks otherwise.
As reported earlier, Kusama emphasized that boosting Shiba Inu’s adoption is imperative, as burning the token is not the only factor that can increase the price.
Increasing adoption will require the team and the community to get more people to use Shiba Inu-related products, including Shibarium.
Meanwhile, Shibarium has been gaining traction since its mainnet launch, recording nearly 1.12 million addresses and 1.36 million transactions.