ChatGPT recently unveiled predictions for Shiba Inu, indicating that this dog-inspired cryptocurrency might achieve a record price by the coming year.
The rapidly emerging AI chatbot, ChatGPT, has provided some bullish outlooks for Shiba Inu’s (SHIB) value. The AI suggests that Shiba Inu’s price could see a significant surge in the upcoming year, potentially setting a new all-time high (ATH).
“2024: The price [of SHIB] could be higher than it is in 2023, possibly reaching a new ATH,” stated the chatbot.
For context, SHIB’s last peak price, $0.00008616, was observed on October 28, 2021.
Additional Predictions from ChatGPT
In addition to forecasting a potential new all-time high for SHIB in 2024, ChatGPT also offered optimistic predictions regarding the future of this popular token. According to the chatbot, Shiba Inu is poised for significant growth in adoption and utility by 2028, which could result in substantial gains.
By 2032, ChatGPT anticipates that Shiba Inu could have matured and established a strong position in the market. Furthermore, the chatbot speculated that if the token continues to gain widespread adoption by 2050, its price could experience substantial growth.
“However, it is essential to remember that the cryptocurrency market is highly speculative, and predicting prices decades ahead is extremely challenging,” it stated.
ChatGPT has a history of offering optimistic forecasts for SHIB. In the previous month, the chatbot predicted that SHIB might reach the desirable price of $0.1 by the year 2029.
SHIB Slumps by 91% From Its Previous ATH
It’s important to highlight that SHIB’s previous all-time high of $0.00008616 was achieved on October 28, 2021. However, the cryptocurrency has experienced a significant decline of 91.44% since then. As of the latest data from Coinmarketcap, SHIB was trading at $0.000007577, showing a modest 0.1% increase in the past 24 hours.
Given the current performance of the crypto asset, the prospect of SHIB reaching a new all-time high by 2024 may appear challenging.
While the community believes that burning a significant portion of SHIB’s circulating supply could lead to a substantial price increase, Shiba Inu’s lead developer, Shytoshi Kusama, holds a different viewpoint.
Kusama emphasized that boosting Shiba Inu’s adoption is crucial and that burning the token is not the sole factor influencing its price. To achieve broader adoption, both the team and the community should focus on encouraging more people to utilize Shiba Inu-related products, including Shibarium.
Meanwhile, Shibarium has been making progress since its mainnet launch, recording almost 1.12 million addresses and 1.36 million transactions. This development is expected to have positive effects on the overall Shiba Inu token ecosystem.