ChatGPT Predicts A 2x Surge in SHIB Price With This Breakout

Published by

Sohrab Khawas

May 4, 2024

As the crypto world strives to reposition in a bullish stance after a huge bearish hit, the meme coins are on a path to recovery. While the low-cap memes are on a quick rise, the SHIB price trend projects a morning star reversal, slow to pick momentum.

With high anticipations of a reversal turned breakout rally projecting a sharp surge in Shiba Inu, the sideline trader awaits the perfect entry opportunity. To find out the next entry position and the potential target of the breakout run, we asked the latest ChatGPT to give a SHIB price prediction. Let’s find out more in this article.

Shiba Inu Price Performance

Following a trend reversal from the crucial support zone of $0.00002118, the SHIB price sustains dominance at the psychological mark of $0.000020. With a morning star pattern at the base level, the 24-hour jump of 7.84% reduces the 30D drop to 5.82%

In the 1D chart, the SHIB price projects a bullish reversal ready to fracture past the overhead resistance trendline. This will conclude the pullback phase and prolong the prevailing bull run.

Furthermore, the daily RSI line shows a bullish divergence bolstering the double-bottom reversal.

Currently, the SHIB price trades at $0.00002483 and is ready to cross the 50D EMA. As per the trend-based Fibonacci levels, the meme coin could hit the 78.60% Fib level at $0.00004195. Further, it could aim for the psychological mark of $0.000050 beyond that.

To confirm our price chart analysis, we asked ChatGPT to predict the SHIB price trend. Here’s what the AI predicted for Shiba Inu.

SHIB Price Analysis By ChatGPT

ChatGPT finds similar elements crucial in the shared SHIB price chart mentioned in our price analysis above. Instead of a descending triangle, ChatGPT finds a symmetrical triangle and mentions a potential bullish breakout.

Following the breakout, the AI finds the trend-based Fibonacci levels are potential target zones for the bulls.

With the upside stretch potentially reaching the $0.000050 mark, a conservative approach signals $0.00004195 as the next target.

Also Check Out : Memecoins On A Run! DOGE Price And SHIB Price To Jump 50% In May?

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Published by

Sohrab Khawas

Tags: Price Analysis