As the month of September draws to a close, anticipation within the crypto market, especially for altcoins like Shiba Inu, has surged dramatically. With a week still left in the month, there’s ample time for notable developments in the world of digital assets. For Shiba Inu, these developments could be extraordinarily bullish, according to the machine learning algorithm at CoinCodex. This algorithm predicts that the SHIB price could potentially more than double from its current position.
Bullish Expectations For The Last Days Of September
The Shiba Inu price, much like the broader crypto market, experienced multiple downturns in the third quarter of 2024. These declines saw the price retrace to levels not witnessed since the beginning of the year. While this bearish trend prevailed, it also created an opportunity for investors to acquire the meme coin at a reduced price. As the price begins to recover, Shiba Inu investors may be on the brink of a bullish phase.
CoinCodex’s machine learning algorithm, which employs various indicators to forecast future cryptocurrency prices, has predicted a bullish movement for Shiba Inu. The short-term prediction, covering the next five days until the weekend, indicates that the recovery is far from over. The algorithm forecasts a likely scenario where the Shiba Inu price could rise to $0.00003084, representing a 113.06% increase. This prediction suggests the price could more than double within the next five days.
However, on a longer timeframe, the outlook for Shiba Inu is more bearish. Despite the short-term prediction of over 100% gains, the 30-day forecast anticipates a complete retracement of these gains. By October, the algorithm predicts the price will return to around $0.00001444, indicating a 50% decline from the expected $0.00003084 peak.
When Will The Shiba Inu Price Reach A New All-Time High?
Currently, the Shiba Inu price remains more than 80% below its all-time high of $0.000088. This suggests that the meme coin has a significant journey ahead to reach a new peak. The machine learning algorithm’s long-term prediction also provides insight into when SHIB might surpass its previous high.
According to the algorithm, Shiba Inu is unlikely to hit a new all-time high within the next five years. The forecast places the SHIB price at $0.00148 sometime in 2029, marking the highest level for the next half-decade. For the anticipated 2025 bull run, the machine learning algorithm projects a maximum price of $0.00006286 for Shiba Inu.
As the crypto market continues to evolve, these predictions offer valuable insights for investors and enthusiasts. While short-term gains may be on the horizon, the long-term outlook suggests a more cautious approach. Stay tuned for further updates as we navigate the dynamic landscape of digital assets.
