Despite being at the beginning of October, we are witnessing various economic events and volatile movements in the world of cryptocurrencies, particularly Bitcoin. Amidst all this, there is one altcoin that everyone is paying close attention to. Investors are closely monitoring Shiba Inu as the end of the month approaches, where potential price movements may occur.
How Much is Shiba Worth?
Shiba Inu (SHIB) had a relatively successful August, despite losing one zero from its value at the time. However, this trend did not continue, and it has been experiencing a downward trend since then. Considering this, it wouldn’t be wrong to say that the dominance in the crypto market has shifted from bulls to bears.
Although only 6 days have passed since the beginning of October, investors who were expecting a rise in Shibarium seem dissatisfied. Even during the time when Bitcoin crossed $28,000, Shiba Inu (SHIB) failed to deliver the expected price increase. This situation raises the question: Will Shiba Inu rise?
Recently, data on SHIB’s end-of-October price prediction was obtained from machine learning algorithms, as we mentioned in the LUNC price prediction. Unfortunately, these data did not seem to satisfy investors.
According to the algorithm model obtained by PricePredictions, SHIB is expected to trade at approximately $0.000007260 on October 31. Considering the current price of SHIB at $0.00000718, an increase of 1.14% is predicted. As of the time of writing, Shiba Inu’s price in Turkish Lira was trading at $0.00019988, with a 0.53% increase in the last 24 hours.
The Future of Shiba Coin
Recently, DigitalCoinPrice made a price prediction for SHIB. It highlighted a potential price increase between 2023 and 2031. According to the prediction, SHIB’s price could reach $0.0000154 by the end of the year, representing a 114.5% increase from its current price and fulfilling the dream of removing a zero.
After this event, the next zero removal in the altcoin, which is believed to stagnate, is expected to occur in 2031 according to DigitalCoinPrice. If Shiba reaches $0.000107 in 2031, it would signify a 1,390.3% increase.
According to data from 21milyon.com, SHIB’s current market value is $4,229,190,722, with a total trading volume of $67,668,063 in the last 24 hours. It is ranked 18th on Coinmarketcap.
