With the US election influencing market sentiment, Shiba Inu (SHIB) is well-positioned to achieve positive results in the bullish trend and technical indicators. At the time of writing, SHIB is trading at $0.00001908 and has increased by 6% in the past day.
This increase aligns with the rest of the cryptocurrency market, driven by hopes based on the recent US election, where Donald Trump emerged as the winner. According to analysts, Shiba Inu could reach $0.00005685 if it continues on this trajectory.
Expert Analysis: Fibonacci Levels and Key Price Targets for Shiba Inu
Market analyst Alex Clay identifies two key price targets for SHIB, based on Fibonacci retracement levels. In the current phase, Clay notes that SHIB has just completed a 'Descending Broadening Wedge' pattern. This could be a bullish reversal for SHIB.
The pattern described by the diverging downward trendlines indicates a price reversal after following a bearish trend for a while. Shib's movement above $0.00001833 is crucial, opening the door for further gains in the cryptocurrency.
Furthermore, Clay's analysis shows the first target at $0.00003710 corresponding to the Fibonacci level 0.382 is the intermediate level.
The second target at $0.00005685 is at the 0.618 retracement level, where selling pressure is likely to increase. These levels are very important as they consider key points that, in most cases, investors weigh before changing their strategies. This analysis is supported by other cryptocurrencies like dogecoin, which recently grew by 22%.
Detailed AI Information on the Future Price Scenario of SHIB
Encouragingly for SHIB's positive outlook, AI models including ChatGPT and Google Gemini have made predictions depending on various market conditions. ChatGPT's forecasts include three possibilities for SHIB's growth, including: modest, optimistic, and very friendly market conditions.
In a cautious scenario, the price of SHIB could increase 5 to 10 times, ranging from $0.00009555 to $0.0001911. In a more positive situation, the growth potential rises to 15-20 times, with the cost per coin ranging from $0.00028665 to $0.0003822. Even in the best-case scenario, ChatGPT predicts a 30-fold increase bringing SHIB to $0.0005733.
Meanwhile, Google Gemini has a different perspective when considering the market capitalization of Shiba Inu.
Assuming the market capitalization of SHIB could reach $100 billion by 2025, it could trade at $0.0001. Although still theoretical, these AI-based predictions align with many cryptocurrency experts, including analyst Zach Humphries.
Shytoshi Kusama's Vision: $2.35 Billion Blockchain Innovation Center
In other news, Shiba Inu's lead developer, Shytoshi Kusama, presented the Strategic Innovation Center in Blockchain (SHIB) aimed at making the US a technological powerhouse in blockchain.
This $2.35 billion program envisions developing a US city as a hub for blockchain, similar to Silicon Valley for technological innovation. The project will connect physical and digital infrastructure with estimated costs for physical infrastructure ranging from $700 million to $1.2 billion.
Kusama's proposal is expected to create 20,000 new jobs and generate an annual economic impact of up to $5 billion.
It also provides collaboration with educational institutions to promote the development of blockchain professionals. Budget terms are proposed for STEM projects, blockchain certifications, and public-private partnerships. Approximately $100 million to $200 million will be allocated annually to promote the development of this workforce.
SHIB's proposal outlines a clearly defined economic model to attract investment with tax-exempt terms and grants for blockchain companies. An additional $300-600 million will be redirected for cooperation between the private and public sectors.
Additionally, the regulation will include a 'sandbox' to help companies test the implementation of blockchain solutions. This initiative will position the US as the world leader in the blockchain market.