AI Predicted Shiba Inu (SHIB) Price On May 1, 2023
Shiba Inu (SHIB) has adopted a bearish trend that has dominated the cryptocurrency market over the past week as the fourth month of 2023 draws a close. Crypto traders and investors are attempting to predict this coin’s price for the foreseeable future.
PricePredictions have predicted Shiba Inu price to be $0.000010 by May 1, 2023, which is not a significant increase over the current price. According to AZCoin News, this prediction is slightly lower than those for April 30 and March 31, which both stood at $0.000011.
SHIB 7-day price forecast | Source: PricePredictions
At the time of writing, Shiba Inu is trading for $0.0000103, a decrease of 2% over the previous 24 hours, a drop of 11% over the previous week, and a loss of 3% to its value as shown on its monthly chart.
SHIB/USD 4-hour chart | Source: TradingView
However, the one-day indicators gathered from the cryptocurrency and financial tracking website TradingView are primarily bearish, advising “sell” at 15. The oscillators at 8 and the moving averages (MA) at 13 indicate a “strong sell,” which results in this emotion.
SHIB 1-day sentiment gauges | Source: TradingView
The connected developments, such as the planned Shibaswap 2.0, and the mood on the larger crypto market and macro landscape, will determine whether SHIB trades sideways in May, as anticipated by the machine algorithms, or makes a substantial move in either direction.
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