Shiba Inu (SHIB), one of the most widely discussed memecoins in the cryptocurrency market, has been gaining attention as the year comes to a close. Currently trading at $0.00002531, SHIB is down 1% over the past 24 hours.
ChatGPT forecasts a further growth of around 18% by December 1, 2024, potentially pushing the token price to $0.00003.
This prediction is in line with growing optimism among analysts and investors. In a statement, ChatGPT noted: “Based on current market trends, SHIB has the potential to increase by approximately 18% to reach $0.00003 by early December 2024. This prediction considers recent price momentum, broader market sentiment, and technical analysis.”
Analyst Carl The Moon's bullish view
Adding weight to ChatGPT’s outlook, popular crypto analyst Carl The Moon recently shared an even more bullish prediction for SHIB. According to Carl, Shiba Inu could surge to $0.00003630 if it breaks current resistance levels.
In his recent post, Carl presented detailed price charts, showing that SHIB is approaching a key turning point. He highlighted a potential 42% price increase, which if achieved, would take the token to its highest price since April 2024. Carl emphasized that this move could happen in the short term, possibly in just a few days.
“The market structure shows significant bullish momentum and a break above the resistance could push SHIB towards $0.00003630,” Carl said.
Such an outcome will significantly boost SHIB's position in the market, reaffirming its potential to become a leading player in the memecoin space.
Factors supporting SHIB's growth potential
Several fundamental factors support the bullish sentiment surrounding SHIB.
Shibarium Development and Ecosystem Growth: Shiba Inu’s Layer 2 solution, Shibarium, is the foundation for the project’s long-term strategy. Since its launch last year, Shibarium has processed millions of transactions, demonstrating the network’s scalability and utility.
Community Support: The Shiba Inu community, commonly referred to as the “SHIB Army”, remains one of the most active and engaged communities in the crypto space. Their unwavering support continues to drive adoption and market activity.
Market Sentiment: The broader crypto market trend shows a resurgence in investor confidence, with many tokens recovering in price. This environment could further boost SHIB’s price performance.
ChatGPT’s prediction of an 18% price increase for Shiba Inu by December 1, 2024, coupled with Carl The Moon’s analysis of a 42% price increase, paints a promising picture for SHIB’s near future. The token’s recent momentum, ecosystem growth, and strong community support signal that Shiba Inu may be on the verge of a significant breakout.