The second largest meme cryptocurrency, Shiba Inu (SHIB), has been struggling over the past couple of weeks. The asset took a hit in terms of price as well as ranking. SHIB slipped down to the 15th position as it endured a major setback. Amidst this, the community remained optimistic about the asset’s potential to go beyond 1 cent. Prominent artificial intelligence chatbot ChatGPT laid out a timeline for SHIB’s journey towards 5 cents.
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Shiba Inu’s Current Setback
At press time, Shiba Inu was trading at $0.00002095 this comes after a 4.17% over the past 24 hours. The asset’s journey throughout January has been challenging. The meme coin has recorded a nearly 14% drop in the past seven days.
SHIB hit an all-time high of $0.00008845 back in 2021. This peak was achieved about three years ago and the meme coin is currently trading 76% below this level. In order to reach 5 cents, the asset has to rise by 238,563%. While this certainly seems like a long shot, SHIB has surged by 1558042.90% since its all-time low.
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ChatGPT Predicts
According to ChatGPT, Shiba Inu will surely reach the 5 cents mark. But the real question is when the asset could move towards this milestone. The AI chatbot highlights how several factors will need to come into play for it to reach $0.05. This includes “market adoption, ecosystem growth, token burns, and overall market conditions.” Keeping all this in mind, ChatGPT laid out three scenarios from prominent firms.
Data from Telegaon suggests that SHIB will take 17 years and reach 5 cents only by the year 2040. Changelly’s predictions linger around 2050 or beyond as they believe that SHIB will take more than 25 years. Lastly, in a more positive approach, the InvestingHaven Forecast revealed that Shiba Inu could surge to this high in the next five years, in 2030.
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In addition, the AI tool highlighted the need for a much higher market cap, a possible reduction in token burns, and a slowdown in adoptions and utility, which could pose major hurdles for Shiba Inu.
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