The improvement in scalability on its network, the efficiency of transactions and the seriousness of the team working behind it, made Shiba Inu no longer be considered a memecoin by many investors in the market.
Growth in 2024 was notable for SHIB, which has advanced almost 169% despite the volatility it has suffered.
After a stable January and February, the cryptocurrency soared in March to its annual high of $0.000036, marking a jump of nearly 260% at the time.
However, between April and September, SHIB showed a significant downward trend, touching a low of $0.000012.
That was a turning point for the memecoin anyway, as it has been on a steady rise ever since.
Despite a 9% weekly drop, Shiba Inu is still up 6.2% over the past 30 days with a market cap of over $16.25 billion.
ChatGPT calculates the price of Shiba Inu
ChatGPT's AI first highlighted the SHIB burn rate as a potential long-term catalyst. It also mentioned institutional interest, though adoption is a ways off.
In terms of prices, ChatGPT anticipated two scenarios for December 31, 2024, one bearish and one bullish:
The most promising one places SHIB at $0.000066, which is equivalent to a 155% increase compared to the current price. This is hard to believe knowing that there are only 20 days left until the end of the year.
As for the bearish projection, the AI set a target price of $0.000025, which means a drop of approximately 1.5%.
