Happycoin.club - Throughout 2024, the meme token Shiba Inu experienced significant volatility. January and February were marked by relatively stable price dynamics, followed by a sudden jump from $0.0000101 to a yearly high of $0.00003629. This increase of 259.30% marked the beginning of a downward trend that lasted until September when prices fell to $0.00001316.

At the time of publication, SHIB was trading at $0.00002755, having gained 1.6% over the day, while weekly losses remain at 10.8%. Since the beginning of the year, the price of SHIB has increased by 154.90%.

SHIB price chart since the beginning of the year. Source: CoinGecko

To find out where Shiba Inu will finish the year, OpenAI's ChatGPT-4o AI tool was tasked with researching this information.

As a factor supporting price growth, the AI highlighted the recent integration of fully homomorphic encryption (FHE), which enhances the ecosystem's utility and may contribute to the token's expanding appeal. Furthermore, recent spikes in SHIB's burn rate increase the token's scarcity.

Finally, the increase in SHIB's functionality and interest from institutional investors have also been identified as optimistic factors enhancing the project's long-term potential.

On the other hand, as noted by GPT-4o, SHIB still largely depends on social media and hype, and its reliance on market sentiment makes it vulnerable to sudden and often irrational fluctuations.

The OpenAI model emphasized the high concentration of SHIB as a risk factor for price manipulation or sudden dumps.

Regarding price targets, the model identified two - one for a bullish scenario and another for a bearish one. In the first case, GPT-4o predicted that SHIB could rise to $0.00006656, which is equivalent to a 155% increase from current prices. In the bearish scenario, the AI model set a target at $0.00002576, which is just 1.26% below the current price of SHIB.