As the cryptocurrency market fluctuates, investors keep a close watch on the memecoin Shiba Inu (SHIB). With increasing developments surrounding the token, ChatGPT has stepped in with a price prediction for the end of September 2024, suggesting a potential rise in SHIB’s value.
According to ChatGPT’s forecast, “SHIB is predicted to climb approximately 9%, reaching $0.000014 by September 30, 2024″. Currently, SHIB is trading at $0.00001285, showing a 2.51% decrease over the last 24 hours. Despite the short-term drop, analysts and AI models like ChatGPT remain optimistic about SHIB’s upward trajectory.
“The memecoin has demonstrated resilience in the face of market turbulence, and with growing utility, SHIB could see a significant rise in the coming weeks,” noted ChatGPT. This projection aligns with a broader sentiment in the crypto community, particularly given recent developments that may bolster the coin’s market performance.
Recent Developments to Bolster SHIB’s Future
A key development expected to support SHIB’s price increase is the announcement from Kraken, a leading cryptocurrency exchange. Kraken has expanded its futures trading platform by adding Shiba Inu as a collateral asset for over 200 perpetual futures contracts. This new offering enables Kraken Pro users to leverage SHIB for futures trading, opening up more opportunities for traders and increasing the utility of the coin.
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The announcement, shared on X, signifies a major milestone for Shiba Inu. Kraken’s integration of SHIB into futures trading could heighten the coin’s appeal, especially among traders seeking to diversify their portfolios with new collateral options. By increasing SHIB’s utility in the cryptocurrency ecosystem, the coin may experience heightened demand, which could drive its price higher in the coming months.
This development is part of a larger trend where more platforms adopt SHIB for varied uses beyond its memecoin origins. Other platforms and exchanges are gradually embracing SHIB, allowing it to serve as a payment method or collateral in trading, which helps to enhance its adoption and legitimacy.
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SHIB’s Market Outlook
“Kraken’s decision to adopt SHIB for futures trading shows confidence in the token’s liquidity and future,” ChatGPT pointed out, further adding that SHIB’s appeal will likely increase as more exchanges follow suit. The projected rise in price may also encourage long-term investors to hold SHIB in anticipation of future developments and gains.
ChatGPT’s prediction of SHIB reaching $0.000014 by the end of September 2024 reflects growing confidence in the token’s future potential. Supported by utility-expanding initiatives like Kraken’s futures trading feature, SHIB seems well-positioned to see an uptick in both price and adoption, making it a coin to watch closely in the coming weeks.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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