The beginning of 2024 has brought notable gains in the cryptocurrency market, with Shiba Inu (SHIB) securing a significant position. As gains continue and expectations for Bitcoin ETFs rise, investors are speculating where SHIB’s price may land by the end of January.
Recent price movements have led to consultations with artificial intelligence once again. CoinCodex’s algorithms have made a prediction for SHIB’s price at the end of January, considering multiple scenarios simultaneously due to their ability to analyze various conditions at once.
CoinCodex’s algorithm suggests that SHIB could rise to $0.00001038 by January 31, which would represent a 4.24% decrease from its current price at the time of writing. Despite the algorithm’s predictions, crypto experts are not as pessimistic, suggesting that the gains seen at the start of January could trigger a different outcome.
On January 2nd, crypto analyst Javon Marks shared a chart on platform X, indicating that if the current price trend continues, SHIB could experience an increase of over 710%, potentially trading above the $0.000088598 level.
In contrast to the analyst’s optimistic view, many experts foresee a downtrend for SHIB’s potential price, especially when compared to DOGE, noting its vulnerability to high volatility. Analyst Lokenauth emphasizes the absence of significant triggers for SHIB and the potential impact of a bear market on meme coins, predicting a continuous decline for SHIB.
At the time of writing, SHIB was trading at $0.00001085, with a 0.37% decrease over the last 24 hours and a 1.32% gain over the past week. In the last 30 days, the altcoin has seen a 27.88% increase. SHIB’s 24-hour trading volume has also surged by 86% to $164 million, with the overall volume exceeding $6.2 billion, marking a 1.43% increase.
The trajectory of SHIB this month will likely depend on developments in the Shibarium network and the broader sentiment in the cryptocurrency and macroeconomic environments.