Happycoin.club - During the year 2024, the Shiba Inu token meme experienced significant volatility. January and February were marked by relatively flat price dynamics, followed by a sudden jump from $0.0000101 to a yearly high of $0.00003629. This 259.30% gain was the beginning of a downtrend that lasted until September, when prices fell to $0.00001316.
At press time, SHIB was trading at $0.00002755, adding 1.6% on the day, with weekly losses remaining at 10.8%. Since the beginning of the year, the price of SHIB has increased by 154.9%.
SHIB price chart since the beginning of the year. Source: CoinGecko
In order to find out on which mark the Shiba Inu will end the year, the artificial intelligence tool ChatGPT-4o from OpenAI was tasked with studying information about this.
As a factor supporting the price growth, AI highlighted the recent integration of Fully Homomorphic Encryption (FHE), which increases the utility of the ecosystem and can help expand the token's appeal. In addition, recent spikes in SHIB's burn rate increase the token's scarcity.
Finally, the growth of SHIB's functionality and institutional interest are also highlighted as optimistic factors increasing the long-term potential of the project.
On the other hand, as GPT-4o pointed out, SHIB is still heavily dependent on social media and hype, and its reliance on market sentiment makes it vulnerable to sudden and often irrational swings.
OpenAI’s model highlighted SHIB’s high concentration as a risk factor for price manipulation or sudden dumps.
As for the price targets, the model identified two - one for the bullish scenario and the other for the bearish one. In the first case, GPT-4o predicted that SHIB could rise to $0.00006656, equivalent to a 155% increase from current prices. In a bearish scenario, Model II set a target of $0.00002576, which is only 1.26% below SHIB's current price.
