Amidst the current market correction after weeks of bull run, the crypto market is taking a pause earlier than reaching the extremely anticipated $3 trillion market cap. With this sell-off coming earlier than the Bitcoin Halving in April, the meme coin sector is taking a important hit as huge names like Dogecoin and Shiba Inu are fast to react.
Because the weekly return turns detrimental, the Shiba Inu value has taken a dip of 11.72%. Additional, the upper value rejection within the final weekly candle places a further bearish tone to the SHIB value chart.
Shiba Inu Worth Evaluation
Within the weekly chart, the downfall over the previous few days results in a brand new bearish candle because the SHIB value reverses from the 50% Fibonacci stage. With this, the meme coin fails to develop past the $0.000036 mark.
Supply: Tradingview
Regardless of the downfall, the long-term pattern within the Shiba Inu value indicators a bullish pattern reversal after years of downtrend. With the meme coin regaining the degrees final seen in February 2022 and the surge of 240% surge inside two weeks, the uptrend appears unstoppable.
Therefore, as per our value evaluation, the Q2 2024 for Shiba Inu could possibly be extraordinarily bullish, with the breakout run probably hinting at a bounce to $0.00010381.
To again up our evaluation, we shared this picture with ChatGPT. Right here’s what the AI predicted for Shiba Inu in Quarter 2 of 2024.
ChatGPT Predicts 300% Surge In SHIB Costs In Q2 2024
As per the worth evaluation of the above picture by OpenAI’s ChatGPT, the Shiba Inu meme coin is about to blow up within the coming quarter. Utilizing the Fib ranges, the AI predicts a 308% bounce contemplating the SHIB value approaches the $0.00042404 mark.
Nevertheless, it’s the most bullish case. In a conservative strategy, GPT predicts a possible transfer in Shiba Inu to $0.00026156 on the 2.618 Fib stage, which might account for a 151% surge.