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Expert Identifies Key Level XRP Must Maintain to Repeat 2017 Rally  

Lele Jima
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0
Expert Identifies Key Level XRP Must Maintain to Repeat 2017 Rally  

Dark Defender provides a new technical analysis for XRP, identifying a critical level the coin must hold to maintain the pattern observed in 2014 – 2017. 

According to the analysis, XRP has continued to mirror this pattern despite the market downturn. This comes after XRP recently hit a support level of $0.3917, a point Dark Defender labeled as the asset’s “Point of Control (POC).” 

The analyst noted that the support level marks the area where most XRP trades have occurred since 2014, ten years ago. Notably, the $0.3917 support level serves as a psychological barrier, frequently luring traders who consider it a value point, thereby creating a potential price rebound for the digital asset. 

The significance of this support level cannot be overstated. XRP dropping below this level could lead to further price decline and vice versa. 

Meanwhile, Dark Defender compared XRP’s POC with Bitcoin’s, which stood at $1,522. The analyst said that while Bitcoin was still far from its POC, XRP was situated at the level where it experienced most trades. 

XRP Shows Oversold Conditions 

Furthermore, Dark Defender leveraged the Relative Strength Index (RSI) indicator to support their arguments about XRP. According to Dark Defender, XRP’s RSI was at the lower boundary of its range on the daily and weekly charts. 

The analyst contended that XRP’s daily and weekly RSI readings also show oversold conditions, suggesting buying opportunities based on historical patterns. Also, XRP’s monthly RSI is low, similar to levels observed in March 2020 and November 2022. 

Recall that XRP’s RSI plunged to its lowest monthly level of 38.02 in May.  

Critical Level XRP Must Maintain 

Furthermore, Dark Defender contended that XRP’s current price action mirrors the pattern observed in 2014-2017. This period precedes a significant rally that eventually took XRP’s price to an all-time high of $3.84 on January 4, 2018.  

However, Dark Defender stated that XRP must hold the critical support level of $0.3917 to maintain the 2014 – 2017 pattern. 

The analysis follows XRP’s crash below the $0.4 level on July 5. Shortly after the crash, XRP rebounded to around $0.43 a few hours later and is currently trading at $0.4364, reflecting a daily loss of 0.32%. 

Ripple CTO Maintains XRP Cannot be Dirt Cheap, Says No Deviation Yet

Abdulkarim Abdulwahab
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0
Ripple CTO Maintains XRP Cannot be Dirt Cheap, Says No Deviation Yet

Ripple CTO David Schwartz says there is no deviation from the idea that XRP cannot remain dirt cheap, as it implies higher liquidity and more efficient payments.

The low price of XRP continues to be a hot subject in the crypto scene, attracting commentaries from Ripple’s CTO and other industry pundits. Recently, XRP’s price crashed to the $0.39 region, a 16-month low, following the broader market’s unyielding bleeding trend.

Meanwhile, as of last month, XRP traded above $0.53. With XRP retreating below $0.4 on June 5, a community member recalled Schwartz’s 2017 statement asserting that XRP cannot be “dirt cheap.”

Notably, at the time the Ripple CTO expressed this view, XRP was amid the initial stages of a bull frenzy that culminated in an all-time high of $3.84 a few weeks later. However, today, XRP has lost about 90% of that value.

As a result, a member of the community recently asked Schwartz for an updated perspective on his past comment that suggested XRP couldn’t stay low-priced. Instead of addressing XRP’s current value, Schwartz reiterated the essence of his original statement. In particle, he emphasized that it costs $1 to buy sufficient XRP tokens to make a $1 payment.

However, some community members seeking a direct response to XRP’s low price challenged Schwartz, accusing him of deviating from the main issue. 

Ripple CTO Says No Deviation Yet

In response, Schwartz insisted his statement had not deviated, explaining that his original point remains valid. 

Notably, in the 2017 commentary, he illustrated that if XRP costs $1, an entity would need a million XRP to make a $1 million payment. Similarly, if XRP were priced at a million dollars, they would need just one XRP for the same $1 million payment. 

Meanwhile, Schwartz highlighted that higher prices facilitate cheaper payments due to sufficient market liquidity, requiring fewer tokens for transactions. On the other hand, lower prices would necessitate more coins, posing a challenge as it could impact the market.

Essentially, the Ripple executive stressed that this idea had not deviated, which was the foundation of his statement that XRP cannot remain dirt cheap. In a separate discussion on Reddit six years ago, Schwartz explicitly mentioned that higher XRP prices usually align with increased liquidity, resulting in more affordable payments.

ChatGPT Predicts How High Can XRP Go if Ripple Wins the SEC Battle

Lele Jima
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0
ChatGPT Predicts How High Can XRP Go if Ripple Wins the SEC Battle

ChatGPT predicts that XRP prices if Ripple wins against the SEC in the final verdict.  

The ongoing lawsuit between the SEC and Ripple is one factor influencing the price of XRP over the years. Recall that the SEC charged Ripple in 2020, alleging that the company violated securities laws while selling the coin to retail and institutional investors.

Since the SEC filed its lawsuit on Dec. 22, 2020, XRP has endured a bearish trend. While most digital assets recorded new all-time highs (ATHs) in 2021, XRP failed to surpass its previous record of $3.84, registered on Jan. 4, 2018.

As a result, several speculations suggest that XRP’s adverse price action could persist until the multi-year lawsuit ends with a favorable outcome for Ripple. Recall that XRP spiked to $0.93 in July 2023 when Judge Torres issued her summary judgment decision, with Ripple securing a partial victory.

This reignited investor optimism about an astronomical rally for XRP once the judge issued the final verdict in favor of Ripple. So far, the parties have filed the relevant briefs relating to remedies. Consequently, top legal and crypto experts, including Ripple CEO Brad Garlinghouse, expect that the parties could see a final resolution before the end of this year.

With the final verdict expected to be issued this year, we asked ChatGPT to predict XRP’s price if Ripple wins. Interestingly, the popular AI chatbot projected that XRP would spike tremendously should Ripple emerge victorious in the final verdict.

Factors Influencing XRP’s Potential Price Increase 

The chatbot highlighted three factors that could propel XRP’s price for an astronomical rally should Ripple emerge victorious.

Topping the list is regulatory clarity. ChatGPT stated that a victory for Ripple could pave the way for the much-needed regulatory clarity that could potentially drive XRP’s adoption. 

Additionally, the chatbot suggested that XRP has been trading in a multi-year symmetrical triangle, suggesting that a breakout fueled by a Ripple win could lead to a significant upward price action.

Lastly, ChatGPT highlighted XRP’s historical performance and accumulation as another factor that could drive the coin’s price. It recognized the widespread accumulation of XRP by crypto whales over the years. According to ChatGPT, this long-term holding could bolster the price if new investors purchase XRP following a favorable ruling for Ripple.

XRP Targets If Ripple Wins SEC Lawsuit 

Therefore, it outlined the price targets for XRP in three categories: conservative, moderate, and aggressive estimates.  

The first category provides a conservative estimate that suggests that XRP could soar between $3 and $5 if Ripple emerged victorious over the SEC. ChatGPT relied on XRP’s accumulation pattern and previous ATH to issue this prediction. 

Chatgtp predictions of XRP price if ripple is able to win its Lawsuit against SEC
Chatgtp predictions of XRP price if ripple is able to win its Lawsuit against SEC

For the moderate estimate, ChatGPT speculated that a favorable victory for Ripple could raise XRP’s price to $5 to $10. Notably, factors that could drive XRP’s price up to $10 include institutional interest, broader adoption, and new Ripple partnerships. 

ChatGPT’s aggressive estimate projects that XRP could soar between $10 and $20 or more if the final verdict goes in Ripple’s favor. However, the chatbot pointed out that XRP will only hit this target if it gains significant market adoption and new use cases post-Ripple lawsuit. 

Despite these predictions, there is a need to exercise caution when investing in cryptos, including XRP. The speculative nature of cryptos poses a challenge to providing accurate estimates regarding the future price actions of this asset class. 

In the meantime, XRP is currently down 5.06% in 24 hours to $0.4204. At the current price, XRP is down 89.07% from its ATH and 12.04% in the weekly charts. 

XRPUSDT 2024 07 08 07 18 07
XRPUSDT 2024 07 08 07 18 07

Shiba Inu Customized Wallet Maker Partners Visa to Introduce Direct Crypto Payments

Lele Jima
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0
Shiba Inu Customized Wallet Maker Partners Visa to Introduce Direct Crypto Payments

Tangem, the creator of Shiba Inu’s customized hardware wallet, partners with Visa to merge mainstream payments with self-custody capabilities.

According to a recent announcement, the partnership will see Tangem integrate the new technology with Visa payment cards.

 

Tangem Pay to Initially Support USDT 

Speaking in a recent interview with Cointelegraph, Tangem’s CTO Andrey Lazutkin said the product, dubbed Tangem Pay, will launch by year-end under the Tangem brand. Lazutkin stated that the upcoming product stems from a certification and patent it received from Visa in February 2022. 

With the upcoming product, users can spend a variety of cryptos directly from their wallets through Visa-supported merchants’ payment terminals. However, when it goes live by year-end, the product will initially support USDT on the Polygon network. 

At the moment, Tangem supports thousands of digital assets across 59 blockchain networks. 

Notably, it supports SHIB under the Ethereum, BNB Smart Chain (BSC), and Shibarium networks. In addition to SHIB, Tangem supports other Shiba Inu ecosystem tokens, including Doge Killer (LEASH) and Bone ShibaSwap (BONE). 

While Tangem plans to support other cryptocurrencies in the future, it did not reveal when this would happen. 

Benefits of Tangem Pay  

Commenting on the development, Tangem’s co-founder and CEO, Andrey Kurennykh, said the payment technology would give users a two-in-one solution: self-custodial wallet functionalities and the convenience of a traditional bank card. 

The CEO noted that the initiative will bridge the gap between traditional finance and digital assets, allowing users to enjoy the benefits of both worlds. 

Interestingly, Tangem Pay will not be restricted to Tangem wallets alone. The company will expand the solution to other crypto wallets, including Metamask, Trust Wallet, and Ledger. 

Tangem Offer Shiba Inu Customized Wallet 

Launched in 2021, Tangem is among the top companies providing crypto custody solutions. Its hardware wallets are card-shaped, requiring seed or seedless activation. 

A company spokesperson confirmed that users usually receive three cards when they purchase a Tangem wallet. Since its 2021 launch, Tangem has manufactured over one million cards. 

This includes customized wallets for top crypto assets like Shiba Inu. Last year, Tangem launched Shiba Inu customized wallets for enthusiasts of dog-themed tokens. 

The development saw Shiba Inu community members pre-order 5,000 Tangem wallets, with the company shipping the first batch in July 2023. Notably, Tangem expanded its support for Shiba Inu by adding SHIB as a payment method for its wallets. It also manufactured customized wallets for Shiba Inu’s partner, Bad Idea AI. 

8000% Rise for XRP? As American Wealth Advisor Says XRP is New Apple Stock

Abdulkarim Abdulwahab
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0
8000% Rise for XRP? As American Wealth Advisor Says XRP is New Apple Stock

Mickle, a widely followed U.S.-based wealth advisor, has boldly asserted that XRP could be seen as the new Apple stock (AAPL).

He shared this audacious view in a recent post on X, drawing attention to AAPL’s historical trajectory. Notably, Apple stock has been bullish in recent weeks, opposing the bearish volatility in the crypto scene. Specifically, AAPL has risen by 4.9% in the last five days and 15.83% in one month.

In contrast, Bitcoin has crashed by 12% in the past week, cumulatively shredding 20% of its value in the last 30 days. A similar double-digit percentage price crash is observable for XRP and Ethereum.

Apple Stockholders in Massive Profit

In his commentary, Mickle emphasized that investors who simply held onto AAPL without overcomplicating their strategy have seen returns as high as 8,000% to date, and the stock continues to rise. He noted that holding AAPL was as straightforward as recognizing Apple’s potential with the iPhone, anticipating its dominance in the mobile industry, and monitoring its ongoing success.

Reviewing Apple’s historical chart, Mickle pointed out that the stock has generally trended upward, with few alarming moments. Despite Bitcoin’s higher volatility, he argued that BTC shows a similar long-term upward trajectory.

According to TradingView data, AAPL’s five-year trajectory shows a profit of 345%, comparable to Bitcoin’s 350% over the same period. However, AAPL’s all-time ROI is 176,250%, which pales compared to the 529,630% ROI realized by BTC holders.

Screenshot 2024 07 08 095011
Mickle on X

How XRP May Be Seen as New Apple Stock

Mickle’s argument that XRP is the new Apple stock is based on the idea that investors can similarly hold XRP and expect significant gains without overcomplicating their strategy. This is by recognizing XRP’s substantial utility in the global payment market, worth trillions of dollars, and anticipating that as XRP adoption grows, so will its value.

Notably, TradingView data shows XRP has only increased by 8.45% over five years, far below the returns for AAPL holders. It is important to note that Apple has been in the market for over four decades, while XRP is only 11 years old.

Industry pundits such as Panos Mekras, co-founder of Anodos Finance, have boldly asserted that investing in XRP has more upside potential than Apple, Amazon, and Netflix stocks.

Similarly, renowned crypto analyst EGRAG recently argued that trading XRP at its current low value might be comparable to those who sold off Apple, Google, Amazon, and Tesla stocks in their early stages.

Shiba Inu Issues Urgent Alert: “Shiba Is Shiba”

Zabi
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0
Shiba Inu Issues Urgent Alert: “Shiba Is Shiba”

The Shiba Inu scam alert channel warns community members to stay vigilant against scams misusing the SHIB name, urging focus and caution amid deceptive practices.

The alert comes amid a surge in deceptive practices within the broader crypto community, with some particularly targeting the Shiba Inu ecosystem and its dedicated community, known as the SHIBARMY.

 

SHIBA is SHIBA

According to the alert, there have been instances where individuals and projects have inappropriately used the SHIB name, either by integrating it into their own branding or falsely presenting themselves as representing SHIB.

These entities often fail to celebrate SHIB’s achievements or promote it in any meaningful way. Instead, they use the SHIB name as a vehicle to sell their lesser-known tokens, leveraging the community’s trust for personal gain.

The scam alert channel recently stressed the importance of maintaining focus and vigilance. It highlighted a message from Ryoshi, the anonymous founder of Shiba Inu, who emphasized that Shiba Inu is unique and must be respected. Ryoshi’s message stated that those who honor Shiba Inu are equals, while those who attempt to exploit it are considered scammers and are exiled.

A History of Wolves and Alerts

This is not the first time the Shiba Inu community has issued such an alert. In April, Lucie, a prominent community member, wrote to the SHIBARMY, warning against “wolves in sheep’s clothing” in the crypto realm. She emphasized the importance of building a more transparent and trustworthy ecosystem.

 

Additionally, last year, the community was alerted to malicious emails sent to cryptocurrency exchanges, falsely claiming potential SHIB listings. The scam alert channel warned exchanges to exercise caution and verify the authenticity of such emails.

Further, the community was cautioned about a compromised Satoshi Nakamoto account on the X platform. The account had broken its five-year silence, generating excitement within the Shiba Inu community. However, a Shiba Inu admin later apologized for the notification, citing concerns that the account might have been compromised.

Cardano Set for 130% Surge: Key Factors Behind Predicted Rise

Abdulkarim Abdulwahab
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0
Cardano Set for 130% Surge: Key Factors Behind Predicted Rise

The approaching Cardano Chang Hard Fork could spark a 130% price surge this month, repeating ADA’s historic price jump before its previous hard fork in 2021.

Cardano (ADA) is yet to fully recover from the bearish onslaught it experienced over the past few weeks. As a result, its price continues to set new lows by the week. At press time, ADA trades at $0.3477 after losing 5.50% of its value over the past day. This price reflects a substantial loss of 22.1% over the past month.

However, historical trends suggest a turnaround could be lurking this month. Market intelligence platform IntoTheBlock called attention to the historical observation in a recent post on X. The report noted that Cardano is prepared to undergo a technical upgrade, the Chang Hard Fork, this month.

It pointed out that ADA experienced a remarkable 130% price surge before its previous hard fork in 2021, jumping from $1.35 to $3.10.

Notably, this referred to the Alonzo hard fork on September 12, 2021. This fork introduced smart contract credentials to the Cardano network using Plutus, facilitating the deployment of dApps.

Indeed, ADA hit the $3.10 all-time high on September 2, 2021, ten days before the Alonzo upgrade. The hype surrounding the advent of smart contract functionality on Cardano helped ADA more than double in value in under four weeks.

Cardano Prepares for the Most Major Hard Fork

Now, Cardano is on the verge of another pivotal upgrade, the Chang Hard Fork. Notably, this upgrade will usher the network to the final phase of its development roadmap, the Voltaire era. This era will provide the final components necessary for the Cardano network to achieve self-sustainability.

It comes with a voting and treasury system that will empower network participants to shape the future of the network through their stake and voting rights, allowing them to have a direct say in its development.

The Cardano team believes achieving true decentralization requires a distributed infrastructure and the ability to maintain and improve the network over time in a decentralized manner.

To achieve this, the Voltaire era will introduce a new feature that enables network participants to submit proposals for improving Cardano. Stakeholders can then vote on it through the existing delegation process.

Essentially, the upcoming Chang hard fork aims to fully decentralize the network and transition it out of IOHK’s management. Cardano founder Charles Hoskinson has touted this upgrade as the most prominent landmark in the network’s history.

ADA Price if History Repeats

While ADA’s value has suffered significant setbacks in recent weeks, a potential turnaround could be on the horizon based on historical trends. If history repeats itself, ADA’s price could surge by 130% from its current $0.3477, potentially propelling it to around $0.8 in the coming days.

Unveiling Timeline for XRP Explosive 6,000% Surge Amid Doji Candle Patterns

Sam Wisdom Raphael
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Unveiling Timeline for XRP Explosive 6,000% Surge Amid Doji Candle Patterns

The Block Bull, a market analyst, now expects XRP to record a 6,000% pump in a few weeks on the back of a doji candle formation on the XRP/BTC weekly chart.

This assertion comes amid the consolidation observed on the XRP/BTC chart. The ratio had dropped 77.7% from the high of 0.00002970 last July to a low of 0.00000662 in June this year. This was due to Bitcoin recording higher highs, while XRP saw stunted growth.

XRP Forms Doji Amid Consolidation Against BTC

However, with the current downtrend, Bitcoin’s upsurge has halted, leading to a consolidation for the XRP/BTC ratio. Amid this consolidation, the ratio formed a dragonfly Doji candlestick on the weekly timeframe. 

For the uninitiated, a Doji candlestick occurs when an asset’s opening and closing prices are almost equal. The body of such a candle is extremely small or non-existent. In the previous weekly candle, the XRP/BTC pair opened at 0.00000758 and closed at 0.00000751. This led to the formation of the Doji candle. 

Such a candlestick typically indicates indecision in the market, as neither buyers nor sellers could gain control. However, The Block Bull sees it as an indication of an imminent price pump, citing history. He stressed that the last time the Doji candlestick occurred, XRP secured the expected rally in eight weeks.

A 6,000% Pump Within 8 Weeks

The analyst predicts a 6,000% increase in XRP’s price against Bitcoin following the formation of this Doji candlestick. Historical data suggests this could occur within eight weeks. Notably, the XRP/BTC ratio currently sits at 0.00000758, with XRP changing hands at $0.4199. 

A 6,000% increase in the ratio would push it to 0.00046238. This value translates to an XRP price of $25.6 supposing Bitcoin’s price remains fairly stable. However, it is highly unlikely for BTC to not record any price growth within this period. If Bitcoin increases, XRP’s value at an XRP/BTC ratio of 0.00046238 would be much higher. 

XRPBTC 6000 Pump
XRPBTC 6000 Pump

Other analysts have also predicted XRP to outperform BTC in the coming months. Last month, Alex Cobb projected an XRP/BTC spike to 0.0006, translating to an XRP price of $36. In March, analyst Dark Defender asserted that XRP could reach $14.61 if the XRP/BTC chart hits its record high.

Notably, XRP and Bitcoin have recorded similar performances over the past week, both witnessing declines amid bearish pressure. However, XRP has slightly outperformed BTC, data from CoinMarketCap confirms. XRP is down 12.1% in the last week, while BTC has dropped 12.58% within the same period.

XRP Against BTC
XRP Against BTC

Here is Shiba Inu Price If It Surges 7,600,000% Like in 2021

Sam Wisdom Raphael
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Here is Shiba Inu Price If It Surges 7,600,000% Like in 2021

If the Shiba Inu’s price ever replicates the historic 76,000,000% it witnessed between 2020 and the bull run in 2021, it could spike to a new and unexpected high.

One of the major factors behind Shiba Inu’s appeal is its rich history. Launched in August 2020, SHIB emerged to contend for the dominance recorded by Dogecoin (DOGE) in the meme coin scene. However, most industry leaders regarded it as one of the multiple meme coin experiments in the market.

Shiba Inu Historical Success

Ethereum founder Vitalik Buterin was one such industry leader. Buterin received half of SHIB’s supply but sent the tokens to various charities and burned the rest in May 2021. The Ethereum founder recently confirmed that he viewed Shiba Inu as another meme coin that would soon become worthless.

Interestingly, Shiba Inu exceeded his expectations as well as the expectations of other industry leaders. It quickly became the second meme coin to make it to the top 10 list of largest assets. This was as a result of its meteoric price surge from 2020 to 2021. 

In a report last May, price tracking platform CoinGecko emphasized that Shiba Inu is among the most successful crypto tokens. They revealed that investors who committed $12 to SHIB in 2020 saw their investments increase to $1 million in 2021. This represented a 7,692,207% increase and was due to Shiba Inu’s astronomical rally to $0.00008845 in October 2021.

New investors have trooped into the market, hoping for a repetition of this price upswing. However, such a repeat is highly unlikely due to Shiba Inu’s current circulating supply. Nonetheless, this reality has not stopped some investors from holding onto optimism.

What if SHIB Repeats the 2021 Run?

Amid the confidence, The Crypto Basic recently evaluated how much Shiba Inu’s price would be if it repeated the rally. Notably, SHIB currently trades for $0.00001566, looking to reclaim the $0.000016 price territory. At its current price, Shiba Inu is down 82% from the $0.00008845 all-time high.

Multiple analysts believe SHIB is capable of surpassing this all-time high. Some expect an imminent rally to $0.000165. However, others see the token spiking to $0.00045. Notably, a repetition of the 2020 to 2021 upsurge would push Shiba Inu beyond every ambitious target set by analysts. 

If Shiba Inu surged at the same 7,692,207% rate, its price would spike from the current $0.00001566 value to $1.2046. At this value, investors holding 100 million tokens worth $1,566 would see their investments rise to $120.46 million. 

If Shiba Inu’s circulating supply remained fairly stable, this price would lead to a market cap of $709 trillion. However, there is not enough money in the world to sustain this valuation. As a result, it is highly improbable that Shiba Inu will repeat its historic run. Nonetheless, analysts believe it still has room for more growth.

Shiba Inu Potential Price Surge if Monthly Volume Hits $1 Trillion

Sam Wisdom Raphael
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0
Shiba Inu Potential Price Surge if Monthly Volume Hits $1 Trillion

Shiba Inu price could spike to the $0.001 territory if SHIB monthly volume grows to $1 trillion, according to assessments from OpenAI’s chatbot ChatGPT.

Shiba Inu token currently trades for $0.00001461 amid a broader market downturn that has kept Bitcoin (BTC) $57,000. Despite this decline, investors continue to accumulate Shiba Inu, driven by a strong belief in an eventual price rebound. 

Interestingly, analysts have set various targets for the token, influenced by multiple factors that affect the cryptocurrency market. For instance, analyst Crypto Sheriff projected an imminent Shiba Inu price surge to $0.000045. Alikze, another analyst, expects a pump to $0.000059 once the downtrend is over.

Shiba Inu Price at a $1T Monthly Volume

Amid this trend, we asked ChatGPT to assess Shiba Inu’s potential price if its monthly trading volume surged to $1 trillion. For context, Shiba Inu’s volume over the past month is $12.6 billion, which is about $999.874 billion short of $1 trillion.

In response, the AI chatbot highlighted the relationship between trading volume and price, noting that while increased trading volume generally indicates heightened interest and potentially higher prices, the assessment, which sets a direct link to price, is not particularly straightforward. 

At the time of the analysis, the current price of Shiba Inu was $0.00001461, with a monthly trading volume of $12.6 billion. ChatGPT first obtained the volume increase factor needed to reach a $1 trillion monthly volume. This factor was determined by dividing the target volume by the current volume, amounting to 79.365.

The AI chatbot then assumed a direct proportional relationship between trading volume and price in terms of increase. ChatGPT suggested that the price could result from a multiplication of the current price by the volume increase factor. This would bring the target price to $0.001159, representing a 7,832% increase from the current figure.

ChatGPT Shiba Inu Price Projection
ChatGPT Shiba Inu Price Projection

Interestingly, several prominent voices believe the $0.001 level is possible for Shiba Inu. In April, market watcher Armando Pantoja predicted a SHIB rise to $0.001 after the Bitcoin halving. Last August, CrowdWisdom, a tech platform, asserted that burns could help Shiba Inu hit $0.001.

Factors Impacting Volume and Price

However, ChatGPT emphasized that this scenario is purely hypothetical. The actual price could be influenced by a variety of other factors. These factors include overall trends in the cryptocurrency market, news events, and broader economic conditions.

The chatbot then spotlighted multiple factors capable of catalyzing a spike in Shiba Inu’s trade volume. It called attention to positive news around the ecosystem. Notably, significant developments, and bullish market sentiments can drive volume and prices up.

According to ChatGPT, supply and demand could also play a significant role. Changes in supply, such as token burns or increased demand can impact prices. In addition, regulatory developments around SHIB and the broader market could also impact investor confidence. Lastly, adoption is also capable of influencing volume and price.

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