AI-powered chatbots, ChatGPT and Google Bard, provided forecasts on Shiba Inu’s possible price if Bitcoin surges to $500,000. This prediction is based on a Bloomberg forecast and the bullish state of the crypto market.
Notably, the prevailing sentiment among crypto investors is presently bullish, and Bloomberg projected that the price surge to $42,000 in December 2023 will start a super cycle.
This cycle will likely drive the price of BTC to $500,000.
Chat GPT and Google Bard Give Predictions For Shiba Inu’s Price
According to ChatGPT, predicting the price of SHIB if Bitcoin rises to $500,000 is still largely speculative. The chatbot noted that several factors, such as market sentiment and investor behavior, often influence crypto prices.
Also, the connection between Bitcoin’s price and the price of other altcoins can change with time.
Additionally, ChatGPT noted that if Bitcoin rises to $500,000, it will lead to increased interest and more investment in the crypto market. However, the software called attention to the volatility of cryptocurrencies and possible price fluctuations, making it difficult to predict the price accurately.
Secondly, Google Bard, now known as Gemini, gave a more detailed answer on SHIB’s possible price outlook with estimates. Gemini noted that predicting the price of any cryptocurrency based on theoretical projections could be pretty tricky.
However, some factors could influence SHIB’s price. These factors include its correlation with Bitcoin’s price, Shiba Inu’s ecosystem developments, and the overall market sentiment.
Some notable ecosystem developments that could influence the price of SHIB are the decentralized exchange Shibaswap and the layer 2 (L2) scaling solution, Shibarium.
Gemini predicted a price increase of ($0.0000495 – $0.0000990 for SHIB based on these factors. These figures represent an increase of over 1000%.
However, the chatbot added a disclaimer that these figures are just predictions and not guarantees.
Meanwhile, today, February 19, SHIB is bullish on the daily chart, showing a positive attachment to the price of Bitcoin, which is currently above $52,000.
SHIB Forms a Green Candle Today, What’s Next?
SHIB is in an uptrend on the daily chart, forming a green candle today to build on its gains from February 18. The $0.0000096 support level has prevented further price decline, leading to a rally to the $0.0000099 price level.
Also, SHIB is trading above the Parabolic SAR indicator, a strong bullish sentiment confirming buyers’ control of its price.
After breaking above the $0.0000096 price level on February 14, the buyers continued to support further price gains. Additionally, the Stochastic Oscillator displays a value of 80.46 in the overbought region, which is above 80 and is still rising.
This is a solid bullish sentiment suggesting further price increases ahead. Therefore, in the coming days, SHIB will likely break above the $0.0000099 price level to trade at $0.00001.
