Shiba Inu Recovers From Crash, Machine Learning Algorithm Predicts Next Week’s Price

The Shiba Inu is starting to see bad things after the dramatic crash that rocked the crypto market on Thursday. As SHIB’s return brings renewed optimism among investors, a machine learning algorithm has predicted another meme coin to enter next week.

Machine learning algorithm says SHIB price will jump 30%

In a surprising reversal against the bearish sentiment that seems to be dominating the crypto market, the machine learning algorithm at CoinCodex has predicted a further rise in the Shiba Inu price. The 5-day machine learning algorithm forecast is one of the most bullish, suggesting that the meme coin will see a price increase of over 30% from here.

Considering a number of indicators, the machine learning algorithm revealed that investors are still very greedy when it comes to the meme coin. With 74 points on the Fear & Greed Index, investors are willing to put money into the market.

With the expected bullish supply from Shiba Inu, the machine learning algorithm predicts that it will reach 0.00002819 in the next five days. In context, the price at the time of the forecast is $0.00002188, which means that the price is expected to increase by 30.25% in the next week only.

In a long time frame of one month, the machine learning algorithm expects a big push in the price. Placing Shiba Inu near its previous high, it expects a rally of 228.44% to reach $0.00007110. This comes when the machine learning algorithm shows that SHIB sentiment is bearish, which makes it the best time to buy cryptocurrency.

Shiba Inu Collection Continues

As the bearish sentiment seems to be increasing, it has presented a unique opportunity for investors to get into cryptocurrency. Investors took advantage of this opportunity, as the trend of accumulation increased last month. Data from on-chain data tracker Santiment shows that the balance of Shiba Inu in the trade has decreased significantly compared to the previous month.

Usually, when the exchange balance of a cryptocurrency increases, it means that investors are putting money in to sell it. On the other hand, when exchange rates fall, it means that investors are buying and hoarding in anticipation of better prices. The latter is what is happening now as the trade balance is down 2.4% in two weeks.

If the prediction of the machine learning algorithm is correct, then it is possible that this is too low for the price of Shiba Inu to be there in time. With the bull run expected to begin at the end of the year, SHIB’s move to new highs may be inevitable.

The featured image was created with Dall.E, a chart from Tradingview.com