In a video, YouTuber ClayBro mentioned that Shiba Inu coin had bounced off its recent lows, which were below $0.00002 per coin.
However, amidst the market bloodbath in the last 24 hours, the coin has dropped below the $0.00002 level.
ClayBro stated that if Shiba Inu coin manages to break through the $0.000021 resistance, it could embark on a rally with potential price increases of 10%, 20%, or even 30% in the near future. The next levels of resistance to watch for are $0.0000225 and $0.0000235, followed by the $0.000025 to $0.000028 range.
Machine Learning Algorithm Predicts 30% Jump
Despite the overall bearish sentiment in the cryptocurrency market, a machine learning algorithm at CoinCodex has made a surprising prediction for Shiba Inu coin. The algorithm suggests that the meme coin will experience a 30% increase from its current levels within the next five days.
The machine learning algorithm takes into account various indicators, revealing that investors remain highly greedy when it comes to Shiba Inu coin. The Fear and Greed Index for the token stands at 74, indicating that investors are willing to put their money into the market.
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Show more +This sentiment slightly contradicts the overall Fear and Greed Index on CoinMarketCap, suggesting that Shiba Inu coin may be an outlier in terms of investor confidence.
Based on the expected bullishness, the machine learning algorithm predicts that Shiba Inu coin will reach $0.00002800 per coin within the next five days.
However, it is essential to note that the token must first break through resistance levels at $0.000021, $0.000023, and $0.000025. While these resistance levels are not considered to be particularly strong, they still pose potential obstacles for the token’s upward trajectory.
Read more: Why Are Fetch.ai (FET) and Render (RNDR) AI Cryptos Prices Plunging?
With the machine learning algorithm at CoinCodex predicting a 30% increase in the token’s price and investors displaying high levels of confidence, the outlook for Shiba Inu coin appears promising despite the bearish market conditions.
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