As 2022 draws to a close, meme coin Shiba Inu (SHIB) looks to have failed to match last year’s highs. Unsurprisingly, the digital asset has suffered with the rest of the cryptocurrency sector impacted by the effects of Terra (LUNA) ecosystem collapse and, more recently, the devastating meltdown of the crypto exchange platform FTX.
However, the machine learning-based algorithms at PricePredictions, which factor in indicators like moving average (MA), relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands(BB), and others, suggest that SHIB’s value may rise by the end of the month.
As per this forecast, the market’s largest decentralized finance (DeFi) asset by market capitalization is set to trade at $0.000010 on December 31, 2022, which represents an increase of 9.8% compared to its price at press time.
It should also be noted that the predictions of the machine-learning algorithms are lower than those of the crypto community members over at CoinMarketCap, which estimate that Shiba Inu will trade at an average price of $0.000011 by the end of the year however, SHIB’s 2022 Christmas day prediction remains bearish, with the asset predicted to trade at $$0.0000090 on December 25, according to CoinCodex.com prediction.
SHIB technical analysis
TradingView’s technical analysis (TA) indicators on 1-day gauges still remain largely bearish for the time being, with their summary point toward ‘sell’ at 14.
These results are aggregated from oscillators pointing toward ‘neutral’ at 8 (with 2 for ‘sell’ and 1 for ‘buy’); moving averages at the same time indicate ‘strong sell’ at 12 (as opposed to ‘buy’ at 1 and ‘neutral’ at 2).
Shiba Inu price analysis
Currently, Shiba Inu is changing hands at the price of $0.00000910, demonstrating a decline o 2.66% across the previous 24 hours and a decrease of 1.44% compared to seven days before.
As things stand, SHIB’s market capitalization amounts to $4.99 billion, positioning it as the fourteenth largest cryptocurrency by this indicator, as per CoinMarketCap data retrieved by Finbold on December 7.
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