AI Pricing for Shiba Inu SHIB in November 2024

CoinJupiter Report:
As November approaches, the cryptocurrency market is preparing for potential price changes. Shiba Inu (SHIB) is one of the leading meme coins in the field, showing average performance in October with occasional price surges.
November brings hope to the market, especially with Bitcoin and Shiba Inu showing the best performance in terms of price increase.
Here is the performance of SHIB for the next month.
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Shiba Inu: What’s New?
Image Source: Watcher Guru
In October, the Shiba Inu ecosystem saw some significant updates. For example, SHIB gained significant momentum after its DAO announcement, which was recently unveiled by Lucie, SHIB’s marketing developer. This development, known as SHIB Doggy DAO, signifies growing community support and aims to provide a comprehensive web3 experience for SHIB community members.
“The SHIB Doggy DAO Foundation will legally revolve around the DAO, ensuring proper execution of decisions made by the community. It will manage assets like the Doggy Treasury, preventing any improper allocation in the future, and providing transparency and security. This move demonstrates to the world that SHIB is not just another project; it is a serious participant with a long-term vision.”
Meanwhile, due to the rise in Bitcoin prices, October also brought significant price momentum for SHIB. With Bitcoin surpassing the $67,000 mark, most investors flocked to SHIB and Doge, contributing to a slight increase in token prices.
Furthermore, with the expectation that Bitcoin will rise to $70,000, this development could change SHIB’s price during this process, helping it gain substantial market momentum.
“As people expect Bitcoin to soon surpass $70,000, traders are doubling down on high-leverage speculative meme coins, and their discussion rates are at the highest level in five months. Meanwhile, L2 is being overlooked just like arbitration and optimism. Speculative coins can certainly persist for a while longer, but historical data shows that it’s worthwhile to look where the crowd can’t see.”
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Token Price Prediction
According to CoinCodex, Shiba Inu may notice a slight increase in price in November 2024. The token could rise by 1% to reach a stable price level of $0.00001818.
Image: CoinCodex
“Based on our current price forecast for Shiba Inu, the price of Shiba Inu is expected to increase by 1.16%. By November 22, 2024, it may reach $0.00001818. According to our technical indicators, the current sentiment is bearish, with a fear and greed index of 71 (greed). Shiba Inu has recorded 13/30 (43%) green days, and the price volatility over the past 30 days is 7.44%. According to the Shiba Inu forecast, now is a bad time to buy Shiba Inu.”
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