While many cryptocurrencies are experiencing losses in the market, Shiba Inu (SHIB) is bucking the trend with significant gains on its daily chart. Surprisingly, without any major announcements, SHIB saw a 7% increase in just a few hours, following its recent inclusion as a payment method on CoinGate.
Predictions from advanced machine learning algorithms suggest that SHIB may continue to rise, potentially reaching $0.000024 by May 31, 2024. These forecasts rely on technical analysis indicators like ATR, RSI, and BB, indicating a modest 1.61% increase by the end of the month.
Currently trading at $0.00002362, SHIB has experienced a 7.18% gain in the last day, 0.11% over the past week, and a 4.18% increase in the last month. The sentiment among technical gauges is bullish, with oscillators and moving averages signaling a ‘buy’ and ‘strong buy,’ respectively.
Notably, analyst Ali Martinez highlights SHIB’s breakout from a descending parallel channel, potentially leading to an uptrend towards $0.00002954. This upward momentum could be triggered by recent integrations with Polygon and Binance Smart Chain by CoinGate.
While the AI algorithm’s predictions are promising, it’s essential to conduct thorough research and stay updated on SHIB news, as market conditions can quickly change. Remember, investing in cryptocurrencies is speculative and carries risks.
DISCLAIMER: The content provided does not constitute investment advice. All investments are subject to risks, and individuals should perform due diligence before making any financial decisions.
