Shiba Inu (SHIB) AI Price Prediction for July 31, 2024

Though talk that the meme coin ‘fiesta’ is at an end – a period of crypto market trading that saw the launch of numerous new such coins and tokens

Shiba Inu (SHIB) is expected to stabilize soon, but the stabilization will end the recent rapid price changes and restore the relatively slow decline observable throughout much of June, according to artificial intelligence (AI).

This pattern is set to lead to the meme coin falling to $0.000010 – 25% below the Shiba Inu price today of $0.00001334, according to AI algorithms from PricePredictions.

The expected forthcoming decline comes at the tail of a generally poor performance as SHIB is down 20% in the last week of trading and more than 10% in a single day. Additionally, it is, at press time, trading below its 200-day moving average (MA) after witnessing no more than 11 green days in the last 30.

Shiba Inu's recent price movements and upcoming AI prediction

After a period of meme coin ‘fiesta' in the crypto market, recent movements appear to have truly solidified a downtrend, which was especially visible in the last 24 hours of trading.

Even the most popular meme coins collapsed some 23% from $0.00001734 to $0.00001334, while the bigger cryptocurrencies also fared poorly, with Bitcoin (BTC) falling below $55,000 for the first time since February and Ethereum (ETH) collapsing to May lows near $2,800.

Much of the downturn has been attributed to the fear of mounting selling pressure that emerged as the German government began transferring Bitcoin it seized onto cryptocurrency exchanges as well as by Mt. Gox finally initiating repayments for its creditors.

In total, the ongoing bloodbath has led to the cryptocurrency markets losing approximately $350 billion in market capitalization and falling from about $2.3 trillion at the start of the month to $1.96 trillion at press time.

Shiba Inu price analysis

After beginning the month of June with a strong rally that saw SHIB reach highs of $0.000015, the meme coin encountered selling pressure that caused a downturn in the second half of the month.

This downturn saw Shiba Inu drop to lows of $0.000011 on June 20 before recovering slightly in the following days of trading, reaching the current price levels from which AI now expects another downturn.

Shiba Inu is now down 20% in the last week of trading and more than 10% in a single day. Additionally, it is, at press time, trading below its 200-day moving average (MA) after witnessing no more than 11 green days in the last 30.

Shiba Inu price prediction for July 31, 2024

According to the AI-driven machine learning algorithms of PricePredictions, Shiba Inu – one of the world's biggest meme coins – is expected to find itself trading at $0.000032 by July 31, 2024.

This prediction suggests that SHIB will be able to recover from the downturn expected by the AI in the coming weeks and months, although the recovery will be limited.

At the time of this prediction, Shiba Inu will have completed a 2,000% increase from its current price levels, although this will still be far below the all-time highs of $0.00008 that SHIB reached in late 2021.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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