After a recent market crash, Shiba Inu (SHIB) is showing signs of recovery. Investors are optimistic, and a machine learning algorithm predicts further price gains next week.
Machine Learning Algorithm Forecasts 30% Price Increase
Despite bearish market sentiment, CoinCodex’s machine learning algorithm predicts a significant price increase for SHIB. It suggests a 30.25% jump to $0.00002819 within the next five days.
The algorithm considers indicators like investor greed, which remains high for SHIB. This indicates a willingness to invest in the cryptocurrency.
Long-Term Bullish Outlook
Over the next month, the algorithm anticipates an even more substantial price rally, reaching close to SHIB’s previous all-time high. It predicts a 228.44% increase to $0.00007110.
Bearish Sentiment Creates Buying Opportunity
Despite the algorithm’s bullish outlook, SHIB sentiment remains bearish. This could present an ideal time for investors to accumulate the cryptocurrency.
Data from Santiment shows that the number of SHIB held on exchanges has decreased significantly in the past month. This suggests that investors are buying and holding, anticipating higher prices.
Conclusion
If the machine learning algorithm’s predictions hold true, SHIB could be at its lowest point in some time. With a potential bull run later this year, it’s possible that the cryptocurrency could reach new all-time highs.
