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Shiba Inu (SHIB) continues to hold its position as the second-largest meme coin in the cryptocurrency market, trailing only behind Dogecoin (DOGE) in popularity and volume. So, what is the new price prediction for SHIB by Elon Musk’s new artificial intelligence, Grok?
How Much is Shiba Coin Worth?
SHIB, the leader of Ethereum-based meme coins, has a massive circulating supply of approximately 590 trillion tokens, which seems to have a significant impact on its price. At the time of writing, SHIB was trading at $0.000008738.
As of the writing time, it was ranked 17th among the top cryptocurrencies with a market value of $5.149 billion.
According to CMC data, the current price represents a 27% loss compared to the price at which the token was traded a year ago. Expectations from the Shibarium layer-2 blockchain, launched in 2023, are high for a price increase.
However, after it was understood whether Shibarium’s native token BONE would have an impact on SHIB, the price of SHIB retracted following the announcement.
What Will SHIB Be Worth According to AI?
The name Grok has been heard more frequently lately. With the backing of Elon Musk, Grok presents a strong stance, providing direct access to X’s posts and detailed data access, achieving successful results among other machine learning models.
The tool seems to be becoming increasingly popular among cryptocurrency investors. According to Grok, the most likely price for SHIB by the end of 2024 could be between $0.000012 and $0.000020.
On the other hand, Grok’s bullish and bearish predictions for Shiba Inu are $0.000030 and $0.000006, respectively. For the AI‘s peak price prediction, a 275% increase from the current price is needed, while a 25% loss is required from the lowest price point.
This situation reflects that Shiba Inu may continue to receive community support despite uncertain demand and use cases. Interestingly, the rumors specific to SHIB have increased its popularity, making it a provider of high transaction volume and liquidity in multiple ecosystems.
While AI’s predictions suggest that investors should be cautious, they must continuously monitor SHIB’s social recognition and trading metrics. It’s important to remember that meme coins like SHIB can be quickly affected by different market events.
