Shiba Inu (SHIB) slipped one spot in the rankings, currently sititng at number 12, after facing a 7.2% correction in the weekly charts. However, the asset is still up by 1.5% in the daily charts, 206.3% in the 14-day charts, and nearly 255% over the previous month. Moreover, SHIB’s price has rallied by over 204% since March 2023.
Also Read: Shiba Inu: Monthly $100 Since 2020 Turns Into $827 Million in 2024
SHIB’s latest rally has brought most of the holders into profits. According to IntoTheBlock data, 69% of SHIB holders are currently in the money, and 17% are sitting on losses. Meanwhile,14% of holders are even.
ChatGPT predicts Shiba Inu’s journey to $0.0005
According to OpenAI’s popular chatbot ChatGPT, there is a 25% chance that SHIB will hit $0.000519 by May 2033, about nine years from now. Hitting $0.000519 from current levels would translate to a growth of about 1522%.
Changelly, on the other hand, anticipates Shiba Inu (SHIB) to breach the $0.0005 level by 2030, predicting a maximum price of $0.0005109489 for the year. Telegaon predicts SHIB to breach the $0.0005 level in 2029, hitting a maximum price of $0.000588 for the year.
Also Read: Shiba Inu (SHIB) Predicted to Rally 251% and Hit $0.0001
Google’s Gemini AI (formerly known as Bard) says that SHIB could hit $0.0005 in a few months to a year, given there is a bullish atmosphere in the crypto market. Under normal ciscumstances, the asset could take several years to hit the $0.0005 target. However, the AI platform notes that hitting $0.0005 is ‘highly improbable under any foreseeable circumstances.‘
Shiba Inu’s (SHIB) massive supply is one of its most significant barriers. If the team can reduce the asset’s supply, prices may rally. The SHIB team is reportedly working on a new burn mechanism, rumored to burn trillions of tokens yearly. However, we do not have a timeline for when the team plans to launch the new burn mechanism.