๐ฎ According to recent AI insights, Shiba Inu (SHIB) price is likely to remain unchanged on December 1 amid prevailing bearish trends.
๐ After the backing by Coinmerge for Shibarium, Shiba Inu has lifted off with a great thrust. Shiba Inu has shown a great level of resilience to the recent support and resistance levels. Experts and investors are eying the price movement of Shiba Inu as December 1 could see a potential fluctuation.
๐ฐ At the press time, Shiba Inu (SHIB) price stands at $0.00000822, reflecting a 1.56% dip in the last 24 hours. Despite this short-term decrease, SHIB has experienced a positive trend over the past week, with a 1.11% price surge. Looking at the monthly performance, the token has shown resilience, marking a 3.6% increase.
๐ As per experts, in the final quarter of 2023, Shiba Inu (SHIB) faced a lackluster performance, remaining largely unchanged, leaving investors eager for movement. Despite hopes for a swift climb to the longed $0.01 mark, Shiba Inu price prediction showed little to no price action movement, testing the patience of its community.
๐ Amidst this stagnation, a machine learning algorithm now predicts a subtle shift on December 1, 2023, estimating a SHIB price of 0.000008446 USD. However, expectations remain tempered, with AI projections indicating a mere 1.5% increase over the next three days. Notably, the algorithm foresees SHIB maintaining its characteristic trading pattern with five zeroes, dispelling hopes of shedding one.
๐ Reflecting on 2023, Shiba Inu struggled to make a mark on the charts, with a notable exception in January when it surged by an impressive 70% within a month.
๐ The current Shiba Inu market shows a neutral sentiment as the price is tucked in a consolidating phase. The daily transaction volume, however, has surged 118% to $294 Mn, which is a positive indication.
๐ According to on-chain data, in the current SHIB market, 19% of holders are in profit, 7% holding steadily, and 74% have taken an exit. Large holders control 78%, influencing market sentiment. SHIBโs 0.36 correlation with Bitcoin suggests interconnected price movements related to the flagship crypto. Long-term commitment is evident, with 74% holding for over a year. Transactions above $100K total $66.19 million, indicating substantial trading activity.
๐ As most of the on-chain signals are indicating a possible bullish stance in the upcoming sessions, Shiba Inu is still 90% down from its ATH at $0.00008616.
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