Forecasts for the future price of Shiba Inu have been provided by market experts and AI chatbots. The recent market-wide correction, triggered by reports of a potential investigation into Tether by the U.S. Department of Justice, has affected Shiba Inu. However, Tether has refuted these claims, leading to a slight market recovery.
Despite the recovery, the market is still experiencing losses, with Shiba Inu down 3.26% in the past 24 hours and 11.9% over the last seven days. This reflects a broader downtrend in the market, with only Solana and Tron seeing gains among the top 20 assets.
However, investor sentiment remains optimistic, with expectations of the bull market’s return. According to data from CoinMarketCap, the Shiba Inu community sentiment is 88% bullish, based on 36,744 votes from community members.
Opinions differ on Shiba Inu’s potential price target in the coming months. A report from crypto exchange resource Changelly suggests a mildly bullish trajectory. Analysts at Changelly reaffirm the bullish sentiment around Shiba Inu, estimating it at 90%. They also note that the SHIB Fear and Greed Index (FGI) currently stands at 65, indicating investor greed.
Changelly analysts predict that Shiba Inu will reach a price of $0.00001908 by the end of October, a 13% increase from current levels. However, they anticipate a correction in November and December, potentially ending 2024 below $0.000019.
Interestingly, these analysts believe that Shiba Inu’s bullish momentum will materialize in 2025, but they do not expect a straightforward rally. The report suggests that SHIB may trade at an average price of $0.00003510 in April 2025, marking a 107% rise from the current price.
On the other hand, AI chatbot ChatGPT is more bullish on Shiba Inu. It presents three speculative scenarios for the token’s price over the next six months. In a broader market rally, ChatGPT predicts a range of $0.000025 to $0.000030 by April 2025. Progress in the Shiba Inu ecosystem, such as Shibarium or other projects, could push the price higher, reaching a range of $0.000030 to $0.000040 in the next six months. Additionally, if more liquidity flows into the crypto market due to macroeconomic conditions, ChatGPT sees SHIB reaching between $0.000040 and $0.000050 next April.
It is important to note that these projections are speculative and not guaranteed. Readers are advised to conduct thorough research before making investment decisions, as this article is for informational purposes only and should not be considered financial advice.