Popular chatbot ChatGPT AI has shared some bullish news for Shiba Inu (SHIB), forecasting favorable prices for the canine-themed token by early next year.
According to ChatGPT’s latest prediction, the price of Shiba Inu could spike to a minimum of $0.00001357 by early 2024. Consequently, this prediction suggests that the price of Shiba Inu could surge by 52.98% from its current level of $0.00000887.
In addition, the chatbot also speculated that Shiba Inu could rally to $0.00001619 by the beginning of 2024, marking an 82.52% increase from its current price.
It bears mentioning that ChatGPT’s latest prediction is nothing compared to SHIB’s previous all-time high of $0.00008616. However, the forecast suggests that Shiba Inu could have gained momentum ahead of the upcoming bull market.
Will Shiba Inu Participate in the Upcoming Bull Market?
Notably, analysts predict the bull market will peak after the next Bitcoin halving, which is expected by April 2024. Historically, the price of Bitcoin usually spikes tremendously after halving, with the asset hitting a new high.
As observed in previous halving events, Bitcoin’s tremendous rally is felt by other tokens, including Shiba Inu, as they also reach new all-time highs.
For context, Shiba Inu’s ATH of $0.00008616 was recorded on October 28, 2021, several months after the last Bitcoin halving. It remains to be seen whether Shiba Inu will replicate a similar feat in the upcoming halving event.
As reported earlier, Shiba Inu lead developer Shytoshi Kusama asserted that the cryptocurrency would take advantage of the upcoming bull run. He stated that the team is working round the clock to complete the necessary work to ensure Shiba Inu participates in the next bull market.
The Shiba Inu lead emphasized the need for lucrative products to go live on Shibarium, which could further bolster the appeal of all ecosystem tokens.
In the meantime, the team is working on a plan to have its L2 blockchain integrated with centralized crypto exchanges. The initiative will allow users to deposit and withdraw Shiba Inu ecosystem tokens through the L2 blockchain.
Shiba Inu Up 3.6% in 24 Hours
Like most crypto assets, Shiba Inu has struggled for most of the year, plunging below $0.00000660 in June. The 19th-largest cryptocurrency by market capitalization has been struggling to eliminate an extra zero after its decimal since May.
Although it succeeded in removing one of its five zeroes in August, the price could not hold as Shiba Inu added the zero a few days later. At the time of writing this line, Shiba Inu was up 3.6% in 24 hours to $0.00000887, according to CoinGecko data.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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