Machine Learning Algorithm Predicts SHIB Price for April 1, 2024
Amid a significant downturn in the cryptocurrency market, Shiba Inu (SHIB) is also experiencing a bearish trend, with predictions from machine learning and artificial intelligence algorithms suggesting further losses in the near future.
The recent drop in SHIB’s price has seen it fall below its most recent all-time high, and the advanced price projection algorithms consulted on March 19 indicate that this downward trend may continue.
PricePredictions, a crypto analytics and forecasting platform, has predicted that SHIB could potentially reach a price of $0.000025 by April 1, 2024, based on indicators such as MACD, RSI, BB, ATR, and others.
Currently, SHIB is trading at $0.0000255, showing a decrease of 7.51% in the last 24 hours and a 20.56% decline over the previous seven days. Despite this recent drop, SHIB has still managed to maintain a monthly gain of 161.68%.
The market reaction to the upcoming FOMC meeting on March 20 and Bitcoin’s pre-halving correction have contributed to the overall bearish sentiment in the market, affecting SHIB’s price as well.
While the machine algorithm’s prediction for SHIB’s price may come true, there is optimism in the market sentiment gauges for the cryptocurrency. TradingView data indicates a ‘buy’ sentiment at 14, with oscillators in the ‘neutral’ zone at 7 and a ‘strong buy’ at 10.
Looking ahead, the upcoming Bitcoin halving could potentially help the crypto market recover and move towards new highs by the end of 2024. As the market continues to evolve, investors will closely monitor the trends and developments in the cryptocurrency sector for potential opportunities.
