Shiba Inu: AI Predicts the Price of SHIB on December 1, 2024

The cryptocurrency market is currently facing a correction. This price drop occurred after Bitcoin (BTC) fell below $93,000. The global cryptocurrency market cap has decreased by 2.9% in the past 24 hours to $3.35 trillion. Shiba Inu (SHIB) also follows the market trend, facing a 2.3% correction on the daily chart and a 0.9% correction on the 14-day chart. Despite the decline, SHIB continues to maintain some gains in other time frames. This asset has increased by 1.7% on the weekly chart, 44.49% on the monthly chart, and 198.4% since the end of November 2023.

Why is the Cryptocurrency Market Decreasing? The current market downturn may be due to increased volatility as Bitcoin (BTC) reached a new all-time high of $99,645.39 on November 22, 2024. Market participants may have taken profits as the cryptocurrency approached the $100,000 mark. According to Professor Omid Malekan of Columbia Business School, “Bitcoin tends to be more volatile in bull markets than in bear markets.” Shiba Inu (SHIB) and other cryptocurrencies follow the trajectory of BTC. Shiba Inu on December 1, 2024 According to CoinCodes, SHIB is expected to experience a price increase in the coming days. The platform predicts that this dog-themed cryptocurrency will trade at $0.00005094 on December 1, 2024. Reaching $0.00005094 from the current price would lead to an increase of about 107.07%. CoinCodex does not expect the price of SHIB to stay above $0.00005 for an extended period. The platform predicts that the price will adjust to the current level in mid-December 2024.

Changelly analysts also provide price increase prospects for SHIB in the coming days. The platform predicts that the asset will rise to $0.0000492 on December 1, 2024. Reaching $0.0000492 from the current price will result in an increase of about 100%. Like CoinCodex, Changelly also predicts that the price of SHIB will decrease to the current level in mid-December 2024.