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BitBoy Says Pay Attention to XRP, Explains Why XRP is Game Changer and Number 1 Coin

Abdulkarim Abdulwahab
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BitBoy Says Pay Attention to XRP, Explains Why XRP is Game Changer and Number 1 Coin

Crypto personality Ben Armstrong, also known as BitBoy, has asserted that XRP could be the top-performing crypto asset of this cycle.

BitBoy expressed this view via his X account on Thursday, citing two key factors supporting his bold forecast for XRP.

Factors to Make XRP a Top Performer this Cycle

First, he emphasized the potential game-changing impact of the Bitwise XRP ETF currently in development. Notably, this prominent asset manager submitted an application on Wednesday to list an XRP ETF with the U.S. regulator.

BitBoy stressed that this XRP ETF could be the major turning point the community has long awaited. According to him, those who aren’t paying attention to XRP now will soon take notice as the effects of the XRP ETF begin to unfold.

 

Additionally, Armstrong is banking on Ripple’s plans to go public via an IPO as another major bullish factor in XRP’s potential this cycle. The view is that Ripple becoming a public company would promote XRP—an asset closely associated with Ripple—to a larger pool of investors.

Some industry pundits argue that Ripple’s IPO alone could drive XRP’s market value as high as $10 in the near future. However, it is important to note that Ripple has stated going public is not an immediate priority.

Moreover, Ripple’s lawsuit with the SEC is resuming, as the regulator issued a notice for an appeal, further delaying the prospect of an IPO

Interestingly, the SEC’s motion to appeal came just a day after Bitwise launched its application for the XRP ETF. Some online commentators have suggested that the SEC’s action has weakened the chances of approval for the XRP ETF, though proponents of the ETF disagree with this view.

Regardless of the hindering developments, Armstrong remains optimistic, believing that approval of the XRP ETF and Ripple’s IPO could make XRP the best-performing token of this cycle.

XRP Historical Performance

Historically, in the 2017/2018 cycle, XRP was one of the best-performing crypto assets, delivering a staggering return of over 75,000% to investors in just one year. 

However, in the current cycle, XRP is among the worst-performing tokens. Proponents are hopeful that these crucial impending developments will serve as the catalyst that drives XRP to new heights.

Bitcoin And Ethereum Options Expiry Unleashes $1.35 Billion Market Movement

Albert Brown
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Bitcoin and Ethereum options expiries unleash $1.35 billion, setting the stage for a pivotal Q4 in the crypto market amid global trends.

Data from Greeks.Live details the expiring options for Bitcoin and Ethereum, showcasing the prevailing sentiment and positioning among traders.

The expiration of 17,500 Bitcoin options reflects a complex sentiment landscape among investors. With a Put Call Ratio of 0.75 and a max pain point set at $63,000, the figures suggest a tilt toward a more protective stance among participants. Bitcoin has experienced a surge, climbing 1.39% in the past 24 hours to reach $61,167 as of press time, a movement potentially influenced by these expirations.

Meanwhile, the notional value of these options is a significant $1.07 billion. As these options expire, the attention remains on the potential shifts in strategy, particularly in response to global financial trends and the nearing U.S. elections.

Bitcoin’s open interest dynamics show a lower PCR of 0.49, with 166,364 calls to 81,448 puts. As we approach another expiry date on October 25, where 21.84% of open interest is focused, market watchers anticipate potential volatility spikes. This observation aligns with the broader expectation of a year-end rally, bolstered by historical fourth-quarter performances.

Open Interest BTC Source X
Open Interest BTC. Source X

Ethereum Options Signal Bullish Surge

Ethereum options, with a recent expiry involving 119,000 contracts, tell a story of burgeoning confidence. The PCR here stands at 0.68, leaning towards calls, with a max pain threshold at $2,500 and a notional value of $280 million. The substantial open interest of 1,068,323 calls compared to 535,556 puts for Ethereum reinforces a bullish outlook in contrast to Bitcoin’s cautious optimism.

This sentiment is even more pronounced for Ethereum’s upcoming major maturity at the end of December, capturing 34.68% of the total open interest. The concentration of positions around this date highlights traders’ expectations for Ethereum’s performance towards the year-end.

Open Interest ETH Source X
Open Interest ETH. Source X

Market Context and Strategic Positioning

The broader market environment, marked by the surge in Chinese and Hong Kong stocks, contrasts with the relative underperformance of blockchain stocks. This discrepancy highlights the unique challenges and opportunities within the crypto market. Despite the current weaknesses, historical data suggest that the fourth quarter could present favorable conditions for building long-term positions in both Bitcoin and Ethereum.

Furthermore, with all major maturity implied volatilities (IVs) maintaining average levels from the past year and expected to hold through the U.S. election period, the coming weeks are seen as opportune for laying groundwork in anticipation of Q4 movements.

IMF Renews Push for El Salvador to Abandon Bitcoin Law

Elendu Benedict
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IMF Renews Push for El Salvador to Abandon Bitcoin Law

The International Monetary Fund again urged El Salvador to relapse Bitcoin law and strengthen the digital asset regulatory framework.

The IMF again persuaded pro-Bitcoin El Salvador to reconsider its Bitcoin adoption and loosen its widespread use of the asset in the country. The global financial organization made the latest call in a press release on Thursday.

IMF Tries for the Ninety-Ninth Time

Since El Salvador adopted Bitcoin as a legal tender in 2021, the IMF has been critical of the move. On several occasions, the agency has warned the Central American country of the adverse fiscal implications the adoption will pose on it.

Thursday’s call was no different, as the IMF urged El Salvador to limit the use of Bitcoin in the country. Julie Kozack, the IMF’s director of communications, revealed that the agency discussed the risks of increased exposure to Bitcoin with El Salvador.

Kozack stated that the discussion focused on relapsing the scope of the Bitcoin law, tightening the regulatory framework, and curbing the public sector’s exposure to the premier asset.

Notably, the IMF used a similar playbook for El Salvador in August. However, it noted that the risks associated with the country’s exposure are yet to materialize.

It bears mentioning that El Salvador holds 5,892 BTC, worth $362 million. The Central American country pledged to acquire one bitcoin per day on March 16 and is currently on a streak exceeding 200 days.

El Salvador Reinforces Bitcoin Adoption

Despite the Thursday discussion, El Salvador has further increased exposure to Bitcoin. Juan Carlos Reyes, the president of the National Commission on Digital Assets (CNAD), announced that El Salvador and digital assets have attained a significant milestone today.

In a tweet, Reyes noted that the National Assembly has enacted a law allowing the CNAD to regulate Bitcoin companies in El Salvador. The president stated that the latest development further strengthens El Salvador’s position as a global leader in digital asset adoption.

According to Reyes, the new law will allow the CNAD to implement a well-suited regulatory framework enabling digital asset companies in El Salvador to thrive. It bears mentioning that the Central American country is the first state to make Bitcoin its legal tender.

Standard Chartered Recommends Buying Bitcoin If Price Dips Below $60K

Lele Jima
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Standard Chartered Recommends Buying Bitcoin If Price Dips Below $60K

British multinational bank Standard Chartered speculates that Bitcoin’s (BTC) price could plunge below $60,000 amid rising geopolitical tension in the Middle East. 

Geoff Kendrick, Standard Chartered’s head of digital asset research, issued the forecast in a note that made the rounds on social media. 

A Good Buying Opportunity 

According to Kendrick, rising tensions in the Middle East could push Bitcoin’s price below $60,000 before the weekend. 

Nonetheless, the analyst characterized this imminent plunge as a good buying opportunity for investors due to the spike in Donald Trump’s emergence as president.

He noted that the chances of Republican presidential candidate Donald Trump emerging victorious in next month’s election have soared recently, which makes buying Bitcoin below $60,000 a good buying opportunity. 

Middle East Geopolitical Tension Wreaks Havoc on Crypto Prices 

For context, the geopolitical tension in the Middle East dampened investors’ hopes of having a memorable “Uptober” experience. This month began with Iran launching multiple missile attacks on Israel, wreaking havoc in the country. 

Amid fears of possible retaliation and World War III, the global financial markets, including cryptos, felt the impact of this attack as prices of various assets plummeted heavily. Bitcoin, the premier asset, which traded above $66,000 on September 27, plunged below $61,000 on October 1. 

Since the incident, Bitcoin has traded between $60,000 and $62,233, and it is currently worth $61,610. 

Trump Reelection Odds Soars 

Notably, Kendrick forecasted that Bitcoin could fall below $60,000 before the weekend, potentially presenting a good buying opportunity for investors to purchase the asset at discounted prices as Trump’s odds in the U.S. presidential race spike. 

As of yesterday, data from Polymarket showed that Trump’s odds of winning the election surged by 1%. Conversely, Trump’s opponent and vice president of the U.S., Kamala Harris, witnessed a decline of a similar proportion in the same timeframe. 

Currently, Trump’s odds of winning the election are 49.6%, while Harris’ is 49.5%. 

Trump Vs Harris success odds
Trump Vs Harris success odds

Cryptos Reaction If Trump or Harris Wins  

The potential impact of Trump’s victory in the crypto market cannot be overstated. Crypto prices are expected to surge tremendously if Trump wins due to his pro-crypto stance. 

Contrarily, Kendrick expects an initial slump in crypto prices if Harris emerges as the 47th U.S. president. However, the Standard Chartered exec believes the dip will still result in buy opportunities as long as investors believe her administration would introduce favorable regulations for the industry. 

As reported earlier, the British multinational bank projected that Bitcoin’s price could spike to $200,000, irrespective of who wins the forthcoming presidential election.

Investors Anticipate Upward Price Movement for Bitcoin By Year-End  

In the meantime, Kendrick speculates that investors will be betting on positive price movements for Bitcoin by the end of the year. This is reflected in the surge in Bitcoin call options, which allows investors to purchase the premier asset at a predetermined price and date. 

Citing data from Bitcoin options exchange Deribit, Kendrick noted that call options expiring on December 27 with a strike price of $80,000 have surged by about 1,300 BTC in 48 hours. 

Following the surge in Bitcoin call options, Kendrick suggested that investors are optimistic about positive price action for the premier asset by the end of this year. 

Institutional Trend Positions Solana to Contest Ethereum’s Dominance, Says Sygnum Bank

Abdulkarim Abdulwahab
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Institutional Trend Positions Solana to Contest Ethereum’s Dominance, Says Sygnum Bank

In a recent report, Sygnum Bank highlighted a burgeoning trend that could see Solana emerging as a serious contender to Ethereum’s dominance in the blockchain space. 

Ethereum is traditionally regarded for its stability and security. However, it now faces growing competition as even conservative institutions begin to favor Solana’s impressive scalability.

Institutions Favoring Solana

The shift in sentiment is underscored by remarks from José Fernández, a PayPal executive, who suggested that “Ethereum is not the best solution for payments.” This statement echoes a broader sentiment within the industry, as major players recognize the advantages Solana offers for transaction processing.

Adding to the momentum, Visa has integrated Solana for USDC stablecoin settlements, promoting its low transaction costs and high throughput. The move signals a notable endorsement of Solana’s capabilities in handling large-scale transactions.

Moreover, asset manager Franklin Templeton has disclosed that it will launch a mutual fund on the Solana network, further validating its potential within institutional finance. 

Sygnum also referenced Citi’s exploration of Solana for cross-border payment solutions, noting that the network is garnering serious consideration from major financial entities.

In addition, a September report from leading crypto asset manager Grayscale highlighted Solana as a significant competitor to Ethereum in smart contracts. Grayscale noted that Solana has gained substantial traction this year.

Highlighted Concerns about Solana

Despite this positive outlook around Solana, Sygnum Bank noted that some of Solana’s transaction volume metrics might be inflated. It attributed much of the network’s revenue to the trading of meme coins rather than fundamental use cases.

Famous Bitcoin commentator Edward Snowden recently expressed concerns about Solana. He argues that Solana is centralized and that any major developments on the network could be easily undermined if governments start to take an interest in it.

Gap Between ETH and SOL

Notably, Sygnum Bank also cited a substantial market cap gap between Ethereum (ETH) and Solana (SOL) exists. 

Ethereum has a market cap of $287 billion and a daily trading volume of over $15.7 billion. On the other hand, Solana commands a valuation of $66.14 billion with an intraday volume of $2.53 billion. 

To put this in perspective, Ethereum’s market cap is more than four times that of Solana. If Solana were to expand by 400% while Ethereum remained stable, it would still fall short of Ethereum’s valuation. This seeks to highlight the considerable challenge Solana may face in competing with Ethereum regarding price.

Expert Says SEC Appeal is a Sell Trap, Predicts XRP to $4.23

Elendu Benedict
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Expert Says SEC Appeal is a Sell Trap, Predicts XRP to $4.23

Market expert Bobby A argues that the appeal notice from the US Securities and Exchange Commission (SEC) is not a sign of a prolonged XRP price depreciation as macro charts remain bullish.

XRP, the seventh-largest crypto asset by market cap, saw a notable price correction following the SEC’s notice of appeal on the final decision by Judge Analisa Torres. Since the October 2 notice, XRP has capitulated over 10%.

However, experienced market analyst Bobby A has implied that investors’ sell-the-news disposition is why most miss good market opportunities. In a tweet on Thursday, the analyst maintained that the XRP chart has not flipped bearish as indicators still point to an impending market uptrend.

Analyst Says XRP Surged 1,772% Despite SEC Lawsuit.

Bobby A cited historical events to support his assertion that XRP would surge regardless of the SEC appeal. He noted that the XPRL native token appreciated 1,772% in 2020 when the securities watchdog sued Ripple and branded XRP a security.

For context, XRP pulled a 1,772% bullish uptick from $0.11 to the cycle peak of $1.95 despite the regulatory uncertainty surrounding the coin on the back of the SEC’s charges. Notably, Bobby A argued that the XRPETH and XRPBTC charts look decent, and “the worst news comes at the bottom.”

Technical Analysis Signal Impending Price Surge

Meanwhile, Bobby A cited a bullish technical analysis that could propel XRP’s price by 803% to $4.23 per coin. He shared a chart showing that XRP has been consolidating sideways and building a macro base since 2017.

According to the monthly chart, XRP has historically swung upwards during the cyclical rotation of the momentum oscillator post-Bitcoin’s halving. Notably, the analyst implied that the price action would soon kick in.

Bobby A argued that this cycle closely mirrors the 2016-2017 bull cycle as the XRP price is “tightly wound” around all essential indicators in the monthly chart, including the moving average and Bollinger Band. 

Bullish Fundamental Analysis

Furthermore, the expert implied that XRP’s fundamental analysis looks bullish. According to Bobby A, XRP has legal clarity, real-world utility, a stablecoin, and an upcoming exchange-traded fund (ETF).

For context, Ripple’s CEO Brad Garlinghouse noted after the SEC filed a notice of appeal on Wednesday that XRP’s status as a non-security was not in contention. Garlinghouse stated that even the Wall Street regulator shares the same opinion.

Furthermore, the XRPL native token has been at the center of transactional settlements carried out by Ripple. Garlinghouse also confirmed that the fintech giant will launch a stablecoin “in weeks” to further bolster the XRP Ledger’s utility.

Also, XRP might be the next crypto asset after Bitcoin and Ethereum to have an exchange-traded fund. On October 2, asset manager Bitwise filed for an XRP ETF with the SEC. Notably, Bobby A stated that these bullish events could propel the XRP price by over 803%.

In tandem with growing bullish sentiments around XRP, Bobby A further noted that Republican candidate Donald Trump’s victory in the November elections could end the four-year legal tussle between Ripple and the SEC.

The analyst stated if Trump wins, the SEC chair, Gary Gensler, will resign. According to him, the resignation will usher in a new wave of regulatory clarity in the US and end the SEC’s suppression of the XRP price.

Meanwhile, XRP traded at $0.5237 at press time, down 1.72% in the past 24 hours.

Analyst Slams Ethereum’s Chart as ‘Most Disgusting’ as ETH/BTC Pair Records 30% Fall

Albert Brown
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Analyst Slams Ethereum’s Chart as ‘Most Disgusting’ as ETH/BTC Pair Records 30% Fall

The price of Ethereum struggles to gain momentum, with the ETH/BTC pair underperforming and hitting new lows, sparking concerns among analysts.

Ethereum’s price has shown minor signs of recovery today, hovering around $2,375 at press time. This represents a 1.06% increase in the last 24 hours, but the crypto has seen a sharp decline of 10.47% over the past week.

Amid these fluctuations, a significant underperformance has been noted in the ETH/BTC trading pair, which has attracted considerable attention from market watchers.

Declining Performance of ETH/BTC Pair

In a recent analysis, Michaël van de Poppe, founder of MN Consultancy, pointed out that the ETH/BTC pair has been rejected again at a crucial level and is back at the lows. Consequently, Van de Poppe described Ethereum’s performance against Bitcoin as “the most disgusting” chart he has seen in a while.

He expressed frustration that despite Ethereum’s fundamental growth, it struggles to gather momentum to outperform Bitcoin. With Ethereum’s price revisiting previous lows amid the latest market correction, he raised questions about what might unfold next, especially if Ethereum tests its bottom.

Notably, the accompanying chart points to a 30% price drop in Ethereum against Bitcoin in recent months. At the time of his posting, the pair was trading at approximately 0.03883 BTC. However, updated records show it has declined further to 0.03877 BTC.

Nonetheless, Van de Poppe identifies a key rejection at the 0.05151 BTC level, which he notes is crucial for a potential trend reversal. 

Image
Chart by Michaël van de Poppe

Selling Pressure Holding Back Ethereum

Notably, Ethereum’s challenges in the market are underscored by a marked increase in large-scale selling by early investors.

A notable whale wallet, which had been dormant for two years, began offloading substantial amounts of ETH in October. Over the past week, the wallet sold 19,000 ETH, valued at approximately $47.54 million.

Originally, this wallet received 150,000 ETH during Ethereum’s initial coin offering (ICO) in 2015, when the price per coin was just $0.31. This investment grew from $46,500 to over $358 million in value.

The whale’s selling spree commenced on October 1, with 9,000 ETH sold at prices above $2,600. The selling continued on October 3, with an additional 10,000 ETH offloaded as the price fell to $2,380.

In recent weeks, The Crypto Basic has reported several instances of Ethereum ICO whales moving millions of dollars after nearly a decade of dormancy to cash out. Additionally, the Ethereum Foundation has also been actively selling ETH this year.

Remarkably, these sales have been strategic, often occurring during significant bull runs in ETH prices. These developments have likely contributed to Ethereum’s underperformance in recent times.

Cantor Fitzgerald CEO Says Bitcoin Is a Commodity, Should Be Treated Like Gold and Oil

Elendu Benedict
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Cantor Fitzgerald CEO Says Bitcoin Is a Commodity, Should Be Treated Like Gold and Oil

Howard Lutnick, the CEO of Cantor Fitzgerald, has stated that Bitcoin should be treated in the same manner as gold and oil, dubbing it a commodity.

In an appearance on the Morning with Maria show, Lutnick argued that Bitcoin, the largest cryptocurrency by market cap, is a commodity. He further stated that individuals should treat the premier asset like one of the top two natural minerals: gold and oil.

Lutnick Makes a Case for Bitcoin’s Relevance

For context, Bitcoin’s scarce nature, among other characteristics, has led to its comparison with gold. Finance commentators often consider the digital asset a store of value and a hedge against fiat devaluation. Notably, analysts have asserted that Bitcoin will match gold’s market cap in the future.

Lutnick agrees with that narrative. He stated that the finance scene should regard Bitcoin as a commodity in the same manner as gold and oil. Notably, the US Securities and Exchange Commission (SEC) chair, Gary Gensler, shares the same sentiment as the Cantor Fitzgerald boss. However, Bitcoin has not been accorded the same prominence as gold and oil.

Furthermore, Lutnick stated that the harsh regulatory climate in the crypto sector has downtrodden Bitcoin’s relevance. The CEO noted that regulators’ inability to recognize the potential of Bitcoin and crypto has impacted the sector’s adoption.

Notably, the crypto sector has faced regulatory setbacks in recent years. The incessant clampdown on exchanges and the classifications of digital assets as securities have somewhat hampered the mainstream adoption of the nascent industry.

Lutnick Bets Big on Bitcoin

Interestingly, the CEO has been a long-standing advocate of Bitcoin. In an appearance at the July Bitcoin 2024 Conference, Lutnick announced that Cantor Fitzgerald was launching a Bitcoin lending program.

The Bitcoin financing business will provide leverage positions for investors who hold Bitcoin. Lutnick noted that the program will further unlock the premier asset’s full potential and close the gap between the digital asset sector and the traditional financial system.

Notably, the fund will launch with an initial funding of $2 billion. Meanwhile, athe time of this writing, Cantor Fitzgerald has yet to launch the business.

Cardano Founder Weighs in on SEC’s Appeal Against Ripple

Lele Jima
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Cardano Founder Weighs in on SEC’s Appeal Against Ripple

Cardano founder Charles Hoskinson reacts to the SEC appealing Ripple’s ruling, humorously suggesting that a Ripple Test could replace the longstanding Howey Test. 

The SEC’s appeal notice filed in the Ripple lawsuit this week has continued to trigger reactions among top crypto stakeholders. Notably, the SEC filed an appeal notice on October 2, stating that it wishes to contest Judge Analisa Torres’ decision in the Ripple lawsuit. 

Cardano Founder Reacts 

As reported yesterday, Ripple’s CLO Stuart Alderoty expressed disappointment about the development. However, he emphasized that the company is prepared to prove that the SEC case is irrational and misguided in the U.S. Court of Appeals for the Second Circuit. 

According to him, Ripple might file a cross-appeal, allowing the company to potentially overturn any unfavorable ruling from Judge Torres.

Reacting to Alderoty’s comment, Cardano founder jokingly asked Ripple CLO whether the company is ready to replace the Howey Test with a Ripple Test. 

Howey Test Explained 

The Howey Test originated from a 1946 Supreme Court case between the SEC and W.J. Howey Co. It has become a blueprint for determining whether a transaction constitutes an investment contract, a special type of security. 

According to the Howey Test, a transaction must meet four criteria before it can be categorized as an investment contract. They include (investing money) in a (common enterprise) with the (expectation of making profits) directly from the (efforts of others). 

The SEC leveraged the test to argue that Ripple violated federal laws by selling XRP as a security to investors. Interestingly, the district judge also applied the test to specific facts of the case. 

Specifically, she found that Ripple’s programmatic sales and other distributions did not meet the third and fourth criteria of the Howey Test. 

According to her ruling, retail investors were not relying on Ripple’s efforts to make profits from their XRP investments. Consequently, she ruled that these transactions do not constitute securities. 

Ripple Test Could Emerge If SEC Loses Appeal 

Despite Ripple winning the rulings on programmatic sales and other distributions of XRP, the verdict does not stand as a legal precedent. Some district courts have rejected the reasoning, as seen in the SEC lawsuit against TerraForm Labs.

The rejection stems from the fact that a district judge issued the Ripple decision, making it less of a legal precedent. Interestingly, the Ripple ruling could become a legal precedent if the Second Circuit affirms Judge Torres’ decision. 

In this case, the SEC v. Ripple lawsuit could birth the “Ripple Test,” potentially determining the future classification of crypto assets. Consequently, Hoskinson humorously suggests that this Ripple Test could replace the longstanding Howey Test.

Meanwhile, there are speculations that the appeal could linger until early 2026 when the Second Circuit might issue its verdict. 

Meta and Grok AI Predict How High Shiba Inu Will Surge in October

Sam Wisdom Raphael
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Meta and Grok AI Predict How High Shiba Inu Will Surge in October

AI chatbots Meta AI from Facebook and Grok AI from X have presented varying price targets for Shiba Inu for this October.

Following an impressive performance from the broader crypto market at the close of September, chants of a more bullish October dominated the scene. Notably, from Sept. 23, the global crypto market engineered a recovery push, and Shiba Inu was one of the biggest beneficiaries.

Shiba Inu Begins October Bearish

Specifically, SHIB spiked from $0.00001453 on Sept. 23 to a three-month peak of $0.00002169 on Sept. 27. This marked an impressive 49% increase within five days. Most of this rally occurred on Sept. 26, when Shiba Inu leveraged surging demand to record a 22% intraday spike, the highest in six months.

However, following the $0.00002169 peak, the crypto market witnessed a retracement, and SHIB collapsed with it. Despite the bullish “Uptober” sentiments, Shiba Inu is down 5.24% this month following a 26.95% increase in September. 

Interestingly, this downturn has not impacted investor sentiments, as the bullish chants persist. In a reflection of this optimism, Lola, a community figure, shared responses from two AI chatbots on SHIB’s possible price action for October.

As The Crypto Basic reported earlier this week, Shiba Inu boasts an average return of 283% in October. The dog-themed token has not recorded any loss in the month of October since its launch in 2020. As a result, Meta AI and Grok AI foresee upward movement, though with notable differences in their price targets.

Meta AI’s Shiba Inu Prediction

Meta AI, the artificial intelligence system developed by Facebook, provides a more conservative outlook for SHIB. According to its forecast, Shiba Inu’s price could see a gradual increase, potentially hitting a high of $0.0000389961 by the end of October.

Notably, Meta AI also outlines more detailed predictions for the upcoming months. For instance, in December 2024, it expects SHIB’s price to range between a minimum of $0.0000339966 and a maximum of $0.0000389961, with an average price hovering around $0.0000359964. 

Grok AI’s More Bullish Outlook

In contrast, Grok AI, developed by X (formerly Twitter), presents a more aggressive forecast for Shiba Inu. Grok predicts that SHIB could experience a significant surge, with prices potentially reaching as high as $0.00006 in October, nearly four times the current price.

Grok AI’s outlook is based on a more optimistic market sentiment. It suggests that a perfect storm of market conditions could result in rapid price appreciation, driven by positive news, increased adoption, or other bullish factors. 

However, Grok AI also cautions that the market remains highly volatile. Despite its upbeat forecast, the AI acknowledges that broader market conditions could also result in more conservative outcomes. According to Grok, Shiba Inu’s price might fluctuate between $0.0000142 and an average of $0.0000253.

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