The machine learning algorithm at CoinCodex has predicted where the Shiba Inu price will be in a month. In line with the current market trend, the prediction is bullish which would see the meme coin reach one of the highest levels in three months.
Algorithm Puts Shiba Inu Price Above $0.0000093
It would seem that Shiba Inu is headed toward another impressive breakthrough after a machine learning algorithm predicted a price surge. The CoinCodex algorithm puts the Shiba Inu price at $0.000009363 only a month from now. This means that SHIB could record another 10% increase from its current price level in early December if the prediction holds.
Interestingly, the machine learning algorithm is more bearish in the short term despite the December price prediction. Its 5-day prediction puts the Shiba Inu price at around $0.000007879, which is much lower than its current level of $0.0000085.
On the longer timeframe, the predictions and degree of bullishness and bearishness vary greatly. For example, the machine learning algorithm expects the price to reach a high of $0.00001963 in 2024, and then close to its previous all-time in 2025 at $0.00006711.
Then in 2026, a downturn is expected to wipe off at least 50% of the predicted all-time high for 2025. A year later in 2027, the machine learning algorithm puts the SHIB price at $0.00004820, and around the same price for 2028. In 2029, it puts it at $0.00008588 and then $0.00006142.
Out of all the predictions, one theme remains the same and that is the fact that it doesn’t expect the price to be lower than it is now. If this prediction is to be followed, then now might be one of the best times to actually buy SHIB for cheap.
SHIB price holds above $0.0000085 | Source: SHIBUSDT on Tradingview.com
SHIB Enters A Profitable Quarter
According to data on the CoinCodex website, the Shiba Inu price has entered what is historically considered to be a profitable quarter. Taking an aggregate of all the Q4 performances for the meme coin over the years, it comes out to a 99.15% increase on average for the last quarter of the year. This means that the SHIB price could bring good returns for investors by the time the year draws to a close.
However, Q4 is only the third most profitable quarter for SHIB. The crown goes to Q1 which has an average of 26,440% returns. Then followed by Q2 with an average of 3,546%. But what this shows is that the asset could very well be going from one profitable quarter into another.
For now, the SHIB price is steady above $0.000085. It is seeing 3.18% gains on the daily chart and 6.98% gains on the weekly chart.
Featured image from Coingape, chart from Tradingview.com