Shiba Inu: ChatGPT Predicts (SHIB) Could Reach $0.9; Insights on Timing and Catalysts

Shiba Inu (SHIB) has been struggling to surpass the price of $0.000008, even after a significant update in 2023. Its value has been on the decline since February. However, there’s a new prediction from the popular AI chatbot, ChatGPT, about how and when SHIB could reach $0.9.

According to ChatGPT, there are a few potential catalysts that could trigger a short-term bullish trend for this cryptocurrency. The chatbot suggests that for Shiba Inu (SHIB) to achieve this, it would require a “sudden surge in positive sentiment, new partnerships, and increased adoption.”

What’s even more intriguing is that ChatGPT has provided a timeframe for when this milestone might be reached. ChatGPT has indicated that SHIB could experience a bull run within the next “6 to 12 months.”

Regarding its medium-term growth prospects, the AI chatbot suggests that “If the cryptocurrency market remains bullish and SHIB continues to burn tokens and gain user interest, it could reach $0.9 within 1 to 2 years.”

Furthermore, the chatbot emphasizes that achieving the $0.9 price target in the long term hinges on substantial growth in SHIB’s ecosystem. It suggests that “Over a longer horizon of 3 to 5 years, if SHIB’s ecosystem expands significantly, it could attract more users and investors, potentially driving the price to $0.9.”

It’s crucial to highlight that the most critical factor for SHIB’s price rally is mass adoption, as emphasized by SHIB’s lead developer, Shytoshi Kusama. Token burns alone would lack significance without substantial adoption.

Could Shibarium Burn Influence Shiba Inu’s Price?

Prominent SHIB influencer “Lucie” recently made a statement on X, urging users to shift their digital assets from exchanges to Shibarium. Lucie emphasized that the focus should not be on when Shibarium will start its token burns, but rather on encouraging users to transition their holdings into the project’s layer-2 network.

When will Shibarium initiate the SHIB burn?"
Wrong question ☓

The real question is, "When will you all migrate from exchanges and start using Shibarium?" (hello DEFI, remember bankrupted exchanges like FTX)

The burns are set per transaction, not based on tweets about burns.…
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shibarium✨ (@LucieSHIB) September 18, 2023

Lucie has emphasized to the community that token burns on Shibarium are transaction-based. This means that the more users engage with Shibarium, the more SHIB tokens will be taken out of circulation.

Additionally, there have been rumors circulating that the Shiba Inu (SHIB) team is actively developing a new burn mechanism that could potentially eliminate trillions of SHIB tokens from circulation on an annual basis.

However, there is currently no official information available regarding the launch date of this burn mechanism.

As of the latest data available, SHIB’s burn rate has seen a significant increase of 157.34% over the last 24 hours. Concurrently, the token is trading at $0.00000731, marking a 0.66% increase in its value over the past 24 hours.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.