Shiba Inu: Artificial Intelligence Predicts SHIB Price for October 31, 2023

The price of Shiba Inu (SHIB) rose last weekend along with the larger crypto market. The popular memecoin managed to surpass the $0.000007 level and remains stable at this price point. However, AI (Artificial Intelligence) platforms predicted the price of the dog-themed cryptocurrency for October 31, 2023.

According to the PricePredictions machine learning algorithm, SHIB will reach a price of $0.000007352 on October 31, 2023. The increase represents a growth of approximately 1.38% from current price levels. Additionally, the platform predicts an uptrend for memecoin until at least November 23, 2023.

According to Changelly, SHIB will reach a price of $0.000006667 on October 31, 2023. The decline represents a decrease of approximately 8% from current levels.

On the other hand, CoinCodex predicts that Shiba Inu (SHIB) will reach a price of $0.000006719 on October 31, 2023. The change represents a decrease of approximately 7.32% from current levels. However, CoinCodex expects SHIB to gain some momentum in November.

The current market is going after Bitcoin (BTC). There are many bullish trends around the original cryptocurrency that could sustain the rally. First, a spot BTC ETF (Exchange Traded Fund) may soon surface in the US. Some of the world's most important asset managers, such as BlackRock and VanEck, have filed applications with the SEC (Securities and Exchange). Commission for investment product).

Secondly, BTC is approaching its next halving cycle, which will occur in April 2024. The halving event is a development that is generally bullish because it reduces supply.

Both events together could trigger another BTC bull run very soon. With BTC rising, other tokens like Shiba Inu (SHIB) may follow suit.