The Shiba Inu (SHIB) market had quite a year in terms of price. The popular meme coin made noise a while ago for entering the coveted top ten. But this was rather momentary as SHIB slipped back down. Nevertheless, the asset recorded a growth rate of 182% throughout the past 12 months. As the year ends, the community expects the cryptocurrency to conclude 2024 on a bullish note. But can SHIB rally into the coming year?
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Is Shiba Inu On Its Way To Recovery?
After a difficult start to the week, Shiba Inu was finally embracing the bulls. During the time of writing, SHIB was trading at $0.00002758 after rising by 1.95% over the past 24 hours. Earlier today, the meme coin was trading at a low of $0.00002434 and rose to a high of $0.00002772.
While several analysts and investors have different expectations for SHIB, ChatGPT has its own version. GPT-4o provided two price targets for the meme coin. One for a bullish scenario and another for a situation in which negative elements end up being more prevalent.
In the first scenario, the model forecasted that SHIB prices may rise to $0.00006656. This, in turn, represents a 155.12% increase from its present price level. GPT-4o’s objective for the bearish scenario was $0.00002576, which is only 1.26% less than SHIB’s current price.
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Year-End Prediction
Diving into the information provided by a prediction platform, Shiba Inu’s end to this year will be slightly bearish. According to CoinCodex, SHIB is expected to trade around the current level at the end of the month. But the firm also predicts that the meme coin will trade between $ 0.00002650 and $ 0.00003267 during this month. While there is no major rise, the SHIB community is glad that the asset will not drop lower.
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