Shiba Inu (SHIB) has faced challenges throughout 2023, experiencing a notable increase in its value, adding an extra zero after the decimal point in May. Despite a major launch on a layer-2 network, the coin has been unable to shed this additional zero. Although there was a brief removal of the zero in August, the prices did not sustain, and the extra zero was quickly regained. However, there is positive news for Shiba Inu (SHIB) enthusiasts and investors according to OpenAI’s ChatGPT AI chatbot.
According to the AI platform, the canine-themed cryptocurrency has the potential to rise to at least $0.00001357 at the start of 2024, reflecting a growth of approximately 59% from its current levels. Additionally, the AI chatbot anticipates a peak of $0.00001619 in early 2024, signifying an increase of over 90% from its current price levels.
Shiba Inu’s Millionaire Quest: Prospects in the Upcoming Bull Market
When SHIB was introduced in August 2020, it had around nine decimal places in its price. Fast forward a year, and the value of the asset surged by a substantial percentage, hitting a record peak of $0.00008616 in October 2021. Many investors who acquired SHIB in 2020 reaped significant profits, potentially in the millions or even billions, thanks to the success of the memecoin.
However, those who missed out on SHIB’s initial bull run are now contemplating the possibility of achieving substantial gains in the upcoming bull market. Analysts and researchers are anticipating the next bull run to materialize in early 2024. Bitcoin (BTC), the pioneer cryptocurrency, is scheduled for its next halving in April of the following year. Additionally, there is speculation that the US Securities and Exchange Commission (SEC) might approve a spot BTC Exchange Traded Fund (ETF) around the same period.
These developments have the potential to propel BTC to new record highs. If BTC’s value surges, it could have a cascading effect on other tokens like Shiba Inu (SHIB). Given SHIB’s current low price, some investors may see this as an opportune moment to enter the market.