CoinCodex's machine learning algorithm has crypto/shiba-inu/price-prediction/” rel=”nofollow noopener” target=”_blank”>foretold where the Shiba Inu price will go towards the end of February. SHIB, which hasn't been performing the best this month, is still seeing gains, but it seems the machine learning algorithm doesn't think this rally will continue.
Algorithm Expects Shiba Inu Price to Fall Back
The CoinCodex machine learning algorithm takes into account a number of factors and uses them to make a prediction of the price of a cryptocurrency. For Shiba Inu, the prediction for the next five days is more bearish than expected.
Although Shiba Inu price is currently trading above the $0.000009 level, the machine learning algorithm expects this to be short-lived. The 5-day prediction turned out to be $0.0000089, which represents a 6% drop from where the meme coin is currently trading.
However, over a longer time period of one month, the machine learning algorithm is much more optimistic about the Shiba Inu price. Following the expected drop, he predicts that SHIB price will end up recovering and surpassing the $0.00001 mark once again. If this happens, it would be an increase of over 10% from the low prediction of $0.0000089 for February.
The prediction comes at a time when the broader crypto market is experiencing a recovery, so a drop could go against the grain. However, since it is very short term, that price drop will not have much effect in the long term.
Can SHIB price reach $1?
The price of the Shiba Inu reaching $1 has been a long-standing discussion among investors, but the sheer size of the coin's supply has always been an obstacle to this. CoinCodex's machine learning algorithm does not believe the price of SHIB will reach that high level this decade and expects the coin to underperform.
For example, he expects SHIB's high point in 2025 to be $0.00002029, and that the price will not reach its previous all-time high of $0.00008 for the next five years. Then, in 2030, the machine learning algorithm places the highest point for SHIB price at $0.00008555, meaning it expects SHIB to reach a new all-time high within six years.
Currently, SHIB price is seeing a limited increase, with only a 1.78% increase in the last 24 hours, according to data from CoinMarketCap. Its market capitalization is $5.69 million, making it the 17th largest cryptocurrency in the sector.
SHIB price at $0.0000096 | Source: SHIBUSD on Tradingview.com
Featured image from CoinGape, chart from Tradingview.com
