Dogecoin and Shiba Inu price predictions have been skewed by a machine learning algorithm And he expected The price of these two meme coins will be in June 2024. While the machine learning algorithm expects the price of the Shiba Inu to perform well next month, it has taken a more bearish stance on Dogecoin.
The Shiba Inu will reach previous ATH levels in June 2024
The Coincodex machine learning algorithm has taken an incredibly bullish stance on the Shiba Inu, especially in June 2024, which is expected to be bullish for the cryptocurrency market. According to the forecast, the price of the Shiba Inu will rise towards its all-time high price of $0.00008 next month.
To be more specific, the machine learning algorithm sets the price of the Shiba Inu at $0.00008086, which represents a 229% increase from its current level of $0.000025. This is only about 10% below its all-time high of $0.00008845, and if it happens this way, it could put the meme on the path to achieving a new all-time high.
On the shorter time frame, the machine learning algorithm also predicts that SHIB's price will rise this week. It puts its 5-day value at $0.00003203, which represents a 30% increase from its current level. This means that the price of the Shiba Inu may close the month of May at a high level.
In the long term, the algorithm predicts that SHIB's price will reach an annual high of $0.000117 in 2025, a new all-time high of. However, it does not expect a new all-time high to be established until 2029, when it places it at a yearly high of $0.000157.
Dogecoin price forecast
Contrary to the Shiba Inu prediction, the machine learning algorithm is much more negative about the price of Dogecoin. It puts June 2024 in the ballpark at $0.143, which represents a roughly 14% drop in value from the current level at which DOGE is trading.
The downtrend is also the same in the short term, with the 5-day price forecast at $0.1646, which is a 1.0% decline. However, it indicates that Dogecoin indicators are still bullish, as the Fear and Greed Index shows greed. This means that investors are still willing to put money into the meme coin for the time being.
The machine learning algorithm expects Dogecoin to reach $0.72 in 2025, and doesn't see the meme price reaching more than $1 until 2029, when it expects the price to reach an annual high of $1.42 before correcting again.
Dogecoin and Shiba Inu price
At the time of writing, the price of the Shiba Inu is trading at $0.00002557, representing a 3.82% increase in the last day. Meanwhile, Dogecoin price saw a 1.44% decline in the same time period to trade at $0.16.
Featured image created with Dall.E, chart from Tradingview.com