AI algorithms forecast a 10.24% decrease in Shiba Inu (SHIB) price to $0.000007235 for Halloween 2023 amid the cryptocurrency’s historical price fluctuations.
Key Takeaways
- AI algorithms forecast a 10.24% decrease in Shiba Inu (SHIB) price for Halloween 2023.
- Google Bard suggests a potential price range of $0.0000065 to $0.0000076 for SHIB on Halloween.
- Historical data shows significant price variability for SHIB on past Halloweens.
- Current SHIB price stands at $0.00000806 with recent gains.
In a week marked by a bullish trend in the cryptocurrency market, Shiba Inu (SHIB) has also managed to make significant gains. However, artificial intelligence (AI) algorithms are not projecting a further increase for the famous dog meme cryptocurrency on this year’s Halloween.
AI For Price Prediction?
According to CoinCodex, an analytics platform utilizing AI-driven algorithms, the predicted price for Shiba Inu on October 31 is $0.000007235. This projection represents a decline of 10.24% from its current price, as of the information retrieved on October 26.
Additionally, Google Bard has provided a potential price range for Shiba Inu based on historical data and factors like price movement and recent stability. It suggests a low price of $0.0000065 and a high price of $0.0000076 for Halloween 2023.
It’s essential to consider the historical context of SHIB prices during past Halloweens. Since its launch in 2020, SHIB’s Halloween prices have been extremely variable. In Halloween 2020, SHIB was trading at a minuscule $0.000000000168.
The following Halloween witnessed a staggering surge, with SHIB’s price skyrocketing to $0.00006541, marking a 38,934,400% increase from the previous year. However, the year after, the price plunged to $0.00001194 on October 31, 2022, down 81.75% from the year before.
AI forecasts SHIB price for Halloween 2023https://t.co/PdycFr0ajb
— John Morgan (@johnmorganFL) October 26, 2023
As of the latest data retrieved on October 26, SHIB is trading at $0.00000806, reflecting a significant daily increase of 10.23%. Over the past seven days, it has gained 19.6%, and on the monthly chart, it has advanced by 10.51%.
To Conclude
While AI algorithms do not foresee a substantial positive change in SHIB’s price in the coming days, it’s crucial for investors to conduct thorough research and carefully assess their risk tolerance and investment goals, especially when allocating a significant portion of their portfolio to any asset. SHIB’s historical price fluctuations on Halloween emphasize the importance of vigilance in the volatile cryptocurrency market.
