Expectations for the prices of Dogecoin and Shiba Inu have deviated as a machine learning algorithm has predicted where the price of these two meme coins will be in the month of June 2024. While the machine learning algorithm expects the price of Shiba Inu to do well in the coming month, it has taken a more bearish stance on Dogecoin.
Shiba Inu To Reach Previous ATH Levels In June 2024
The Coincodex machine learning algorithm has taken an incredibly bullish stance on Shiba Inu, especially in the month of June 2024, which is expected to be bullish for the crypto market. According to the prediction, the Shiba Inu price will rally toward its al-time high price of $0.00008 next month.
To be more specific, the machine learning algorithm puts the Shiba Inu price at $0.00008086, which is a 229% increase from its current level at $0.000025. This is only around 10% below its all-time high price of $0.00008845, and if it does play out this way, it could put the meme coin on a path to creating a new all-time high.
On the shorter time frame, the machine learning algorithm also expects the SHIB price to see a rally this week. It puts its 5-day value at $0.00003203, which is a 30% increase from its current level. This means the Shiba Inu price could close the month of May on a high note.
On the longer term, the algorithm expects the SHIB price to hit a yearly high of $0.000117 in 2025, which is a new all-time high from. However, it doesn’t expect a brand new all-time high to be created until the year 2029, when it puts it at a yearly high of $0.000157.
Dogecoin Price Prediction
Unlike the prediction for Shiba Inu, the machine learning algorithm is much more bearish on the Dogecoin price. It puts its June 2024 in the ballpark of $0.143, which is an almost 14% decline in value from the current level DOGE is trading at.
The bearishness is also the same in the short term, with a 5-day price prediction of $0.1646, which is a 1.0% decline. However, it points out that Dogecoin indicators are still bullish with its Fear & Greed Index showing Greed. This means that investors are still willing to put money in the meme coin for now.
The machine learning algorithm expects the price of Dogecoin to hit $0.72 in 2025, and doesn’t see the meme coin’s price reaching above $1 until 2029, where it predicts that the price will reach a yearly high of $1.42 before correcting back downward.
Dogecoin And Shiba Inu Price
At the time of writing, the Shiba Inu price is trading at $0.00002557, which is a 3.82% increase in the last day. Meanwhile, the Dogecoin price has seen a 1.44% decline in the same time period to trade at $0.16.
Featured image created with Dall.E, chart from Tradingview.com
Be the first to comment