Источник CryptoPotato.com, Sofia, Bulgaria
Заголовок Can Shiba Inu (SHIB) Erase a 0 From its Price Before the End of 2024? (ChatGPT Analyzes)
Дата 20240928

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Can Shiba Inu (SHIB) Erase a 0 From its Price Before the End of 2024? (ChatGPT
Analyzes)

Can Shiba Inu (SHIB) Erase a 0 From its Price Before the End of 2024? (ChatGPT
Analyzes)

Author: Dimitar Dzhondzhorov

Last Updated Sep 28, 2024 @ 07:02

While theoretically possible, several factors would have to align to
achieve such a substantial jump before the end of 2024, the chatbot
estimated.

TL;DR

Shiba Inu’s price rose substantially recently, but a major rally will depend
on favorable market conditions and increased SHIB burning.

55% of SHIB holders are now in profit, showing a positive shift.

How Realistic Is Such a Scenario?

Shiba Inu has been making the headlines lately, with its price soaring by 35%
in the past week. Its market capitalization jumped above $11.5 billion, thus
becoming the 14th-biggest cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта but still the second-largest meme
coin (trailing behind Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin). SHIB Price, Source: CoinGecko

We decided to ask ChatGPT whether that rally is sustainable and if the meme
coin could erase a zero from its valuation before New Year s Eve.

The popular AI-powered chatbot did not rule out that possibility. However, it
claimed that a major bull run would depend on numerous factors, such as
favorable market sentiment, Shibarium adoption and utility, and an increase in
the SHIB burn rate.

The layer-2 scaling solution Shibarium took center stage
recently when the total blocks processed on the network exceeded 7 million. In
addition, the number of total transactions is just south of 420 million,
whereas wallet addresses are inching toward 2 million.

The protocol officially went live last August. It is primarily designed to
foster the development of the Shiba Inu ecosystem by enhancing scalability,
improving speed, and lowering transaction costs. For more updates on the
ecosystem, make sure to check out our Shibarium news .

SHIB s burning mechanism has also been on the rise. As CryptoPotato
reported on September 27, the burn rate skyrocketed by almost 34,000%,
resulting in more than 1.8 billion tokens sent to a null address.

Continuous efforts in that field will reduce the huge circulating supply of
the meme coin, potentially triggering a price increase (if combined with a
non-declining demand).

It is worth mentioning that erasing a zero from SHIB s value would
require its market cap to pump to a whopping $115 billion. As of the moment,
Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin), Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum), and Tether• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Tether (USDT) are the only three
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта whose capitalization is higher than that.

SHIB Holders Are Slowly Escaping the Red Zone

Unsurprisingly, the latest price spike of the meme coin has benefited its
investors. IntoTheBlock data shows that 55% of those exposed to the asset are
currently sitting on some paper profits, while 43% remain underwater.

The situation looked much worse in September 2023, when SHIB s price
experienced a severe correction. At that time, almost 90% of the asset s
holders were in the red.

The popular meme coin has a solid• Отдых, развлечения » Хобби » Коллекционирование » Нумизматика » Монета » Средневековые монеты » Солид community base consisting of long-term
investors and proponents. According to the platform, almost 80% of the SHIB
holders jumped on the bandwagon more than a year ago. 19% did so in the past
12 months and only 2% joined the ecosystem in the last 30 days.

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Tags: ChatGPT Shiba Inu (SHIB)

============= Итог: 5,5301 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum#Bitcoin 5,5301 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin#Ethereum 4,3301 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Tether 4,3301 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Dogecoin 3,0665 ; Отдых, развлечения#Хобби#Коллекционирование#Нумизматика#Монета #Средневековые монеты#Солид


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