Shiba

Cryptocurrency

Solana

Bitcoin

Shiba Inu

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 <p class="paragraph">Since reaching a four-month peak in August, Shiba Inu (SHIB) has taken a sharp nosedive, pushing its 2023 losses to nearly 10%.&nbsp;</p> 
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 <p class="paragraph">This descent comes amidst a broader downturn in the cryptocurrency market, marking a challenging year for meme cryptocurrencies, with only sporadic short-term rallies.&nbsp;</p> 
 <p class="paragraph">With the prevailing sentiment for SHIB leaning bearish and increasing uncertainty in the crypto sphere, Finbold has turned to predictive analytics to shed light on the near-term prospects of the second-largest meme crypto asset.</p> 
 <p class="paragraph">According to the data retrieved on October 3, the machine <a rel="noopener noreferrer nofollow" title="learning" href="https://thebittimes.com/tag/learning.html">learning</a> (ML) <a rel="noopener noreferrer nofollow" title="algorithm" href="https://thebittimes.com/tag/algorithm.html">algorithm</a>s on <em>PricePredictions </em>project SHIB to trade at $0.000007260, implying a slight <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> decrease of roughly 0.6% from its current <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>.&nbsp;</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh6.googleusercontent.com/VfVzk_t-s3OlQTD9E9s-CPhb4GGowc2QE5Cy074Yn0PEhG_IFBtW-r05XMJ9GLoMimIlB1u9JeFwdAQzgq8tb-xTBk89OwgnCKXyFcj_1sTjtlOwNsuwJQF_lklqy-Yxr3AxcoT_uiCmA6HMkLZXjh4" alt> 
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    SHIB price prediction for October 31. Source: PricePredictions.com 
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 <p class="paragraph">The ML-powered <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> prediction relies on a thorough <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of widely-used technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) indicators, including average true range (ATR), Bollinger Bands (BB), moving average convergence divergence (MACD), and relative strength index (RSI).</p> 
 <h2 class="wp-block-heading" id="h-shib-price-analysis">SHIB price analysis</h2> 
 <p class="paragraph">At the time of publication, SHIB was changing hands at $0.000007305, down 3.75% in the past 24 hours.</p> 
 <p class="paragraph">The meme-inspired digital asset saw a slight gain of 0.4% in the last week, though it remains 6.5% down on a monthly basis.</p> 
 <figure class="wp-block-image"> 
  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh5.googleusercontent.com/Xg20_dQ2MWky_8l9CCHk_YUNgNDc9uJCUVunPPySwlTgORUu5E3qWN28ZPUjAAqdzbDjvENZrKZawEv-VHRoWd9A-ErvGO34RjaPVKNuWvQ4LcK6zgfseB4W7wJbHEUbAI11cuNgf63WM96sELg7GNw" alt> 
  <figcaption class="wp-element-caption">
    SHIB 1-month price chart. Source: Finbold 
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 <p class="paragraph">During that period, Shiba Inu had 15/30 green days (50%).&nbsp;</p> 
 <p class="paragraph">However, over the past year, the cryptocurrency’s price is down 34%, lagging behind in performance to 64% of the top 100 cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).</p> 
 <p class="paragraph">In addition, Shiba Inu is trading below the 200-day simple moving average (SMA) and remains down 92% from its all-time high reached in October 2021.&nbsp;</p> 
 <p class="paragraph">As a result, the overall sentiment around SHIB remains bearish, although its 30-day volatility somewhat improved lately, sitting at a medium level of 2.09%.&nbsp;</p> 
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/machine-learning-algorithm-sets-shib-price-for-october-31-tbt64927.html">https://thebittimes.com/machine-learning-algorithm-sets-shib-price-for-october-31-tbt64927.html</a></p>

Machine learning algorithm sets SHIB price for October 31

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