Shiba Inu (SHIB) Price Forecast With AI Insights For December 1
Release: 2023/11/30 16:04 Reading: 541
After the backing by Coinmerge for Shibarium, Shiba Inu has lifted off with a great thrust. Shiba Inu has shown a great level of resilience to the recent support and resistance levels. Experts and investors are eying the price movement of Shiba Inu as December 1 could see a potential fluctuation.
At the press time, Shiba Inu (SHIB) price stands at $0.00000822, reflecting a 1.56% dip in the last 24 hours. Despite this short-term decrease, SHIB has experienced a positive trend over the past week, with a 1.11% price surge. Looking at the monthly performance, the token has shown resilience, marking a 3.6% increase.
Shiba Inu Price Forecast: December 1
As per experts, in the final quarter of 2023, Shiba Inu (SHIB) faced a lackluster performance, remaining largely unchanged, leaving investors eager for movement. Despite hopes for a swift climb to the longed $0.01 mark, Shiba Inu price prediction showed little to no price action movement, testing the patience of its community.
Amidst this stagnation, a machine learning algorithm now predicts a subtle shift on December 1, 2023, estimating a SHIB price of 0.000008446 USD. However, expectations remain tempered, with AI projections indicating a mere 1.5% increase over the next three days. Notably, the algorithm foresees SHIB maintaining its characteristic trading pattern with five zeroes, dispelling hopes of shedding one.
Reflecting on 2023, Shiba Inu struggled to make a mark on the charts, with a notable exception in January when it surged by an impressive 70% within a month.
Also Read: Sei V2 Upgrade Boosts SEI Token Rally to All-Time High
Shiba Inu (SHIB) Market Forecast
The current Shiba Inu market shows a neutral sentiment as the price is tucked in a consolidating phase. The daily transaction volume however has surged 118% to $294 Mn which is a positive indication.
According to the on-chain data, in the current SHIB market, 19% of holders are in profit, 7% holding steadily, and 74% have taken an exit. Large holders control 78%, influencing market sentiment. SHIB’s 0.36 correlation with Bitcoin suggests interconnected price movements related to the flagship crypto. Long-term commitment is evident, with 74% holding for over a year. Transactions above $100K total $66.19 million, indicating substantial trading activity.
As most of the on-chain signals are indicating a possible bullish stance in the upcoming sessions, Shiba Inu is still 90% down from its ATH at $0.00008616.
Also Read: BTC, IOTA Lead Crypto Market Gains With Pepe Coin Declining
The post Shiba Inu (SHIB) Price Forecast With AI Insights For December 1 appeared first on CoinGape.
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