Shiba Inu Price Could Spike to the $0.001 Territory if SHIB Monthly Volume Grows to $1 Trillion

Shiba Inu token currently trades for $0.00001461 amid a broader market downturn that has kept Bitcoin (BTC) $57,000

OpenAI’s chatbot ChatGPT has assessed that the price of Shiba Inu (SHIB) could spike to the $0.001 territory if its monthly trading volume grows to $1 trillion.

At the time of writing, SHIB trades for $0.00001461 amid a broader market downturn that has kept Bitcoin (BTC) below $57,000. Despite this decline, investors are continuing to accumulate Shiba Inu, driven by a strong belief in an eventual price rebound.

Interestingly, analysts have set various targets for the token, influenced by multiple factors that affect the cryptocurrency market. For instance, analyst Crypto Sheriff projected an imminent Shiba Inu price surge to $0.000045. Alikze, another analyst, expects a pump to $0.000059 once the downtrend is over.

Shiba Inu Price at a $1T Monthly Volume

In this trend, we asked ChatGPT to assess SHIB’s potential price if its monthly trading volume surged to $1 trillion. For context, Shiba Inu’s volume over the past month is $12.6 billion, which is about $999.874 billion short of $1 trillion.

In response, the AI chatbot highlighted the relationship between trading volume and price, noting that while increased trading volume generally indicates heightened interest and potentially higher prices, the assessment, which sets a direct link to price, is not particularly straightforward.

The chatbot noted that the current price of Shiba Inu is $0.00001461, with a monthly trading volume of $12.6 billion. To begin, ChatGPT obtained the volume increase factor needed to reach a $1 trillion monthly volume. This factor was determined by dividing the target volume by the current volume, which amounts to 79.365.

The AI chatbot then went on to assume a direct proportional relationship between trading volume and price in terms of increase. ChatGPT suggested that the price could result from a multiplication of the current price by the volume increase factor.

This would bring the target price to $0.001159, indicating a 7,832% increase from the current figure.

Interestingly, several prominent voices believe the $0.001 level is possible for Shiba Inu. In April, market watcher Armando Pantoja predicted a SHIB rise to $0.001 after the Bitcoin halving. Last August, CrowdWisdom, a tech platform, asserted that burns could help Shiba Inu hit $0.001.

However, ChatGPT emphasized that this scenario is purely hypothetical. The actual price could be influenced by a variety of other factors. These include overall trends in the cryptocurrency market, news events, and broader economic conditions.

The chatbot highlighted several factors that could contribute to a spike in Shiba Inu’s trade volume. It called attention to positive news around the ecosystem, significant developments, and bullish market sentiments, which can drive volume and prices up.

According to ChatGPT, supply and demand could also play a significant role. Changes in supply, such as token burns or increased demand, can impact prices. Furthermore, regulatory developments around SHIB and the broader market could also impact investor confidence. Finally, adoption is also capable of influencing volume and price.🎜

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