The meme coin market has been experiencing a downturn, with Shiba Inu (SHIB) seeing a significant 36% drop in price over the past month. ChatGPT, an AI model developed by OpenAI, has provided insights into the future of SHIB and the upcoming Wall Street Memes (WSM) token.
Shiba Inu’s bearish momentum continues as investor hype fades. Currently trading around the $0.0000072 level, SHIB’s price hasn’t been this low since early July. The past month has seen SHIB consistently closing in the red, reflecting strong bearish momentum. This decline aligns with the broader crypto market’s downturn, as indicated by the Crypto Fear & Greed Index, which currently sits at 30, firmly in “Fear” territory. Additionally, SHIB’s value has fallen below key moving averages on the daily chart, further signaling a bearish outlook. Fading hype and the disappointing rollout of Shibarium have also contributed to the decline in SHIB’s price, leaving investors questioning its potential for recovery.
ChatGPT predicts further decline for SHIB as selling pressure mounts. As a sentiment-driven meme coin, SHIB is likely to experience further drops in the short term due to the current negativity. If selling pressure persists and SHIB falls below the support level of $0.0000070, ChatGPT believes the price could decline to as low as $0.0000060 in the next month. This would mark SHIB’s lowest price point since September 2021. The pessimistic outlook from ChatGPT has raised concerns among Shiba Inu investors, who are preparing for potential further downside.
On the other hand, Wall Street Memes (WSM) offers a silver lining in the meme coin space. Inspired by the popular r/WallStreetBets community, WSM has quickly gained attention and anticipation. With over 1.1 million followers on social media platforms like Twitter and Instagram, Wall Street Memes has successfully raised over $25 million from early investors during its presale. The project is now preparing for its official listing in just over two weeks. This has attracted high-profile names in the crypto community, with Youtuber No Bs Crypto describing it as the “biggest meme coin launch” of the year. ChatGPT also highlights WSM’s potential for a price pump after its open market debut, citing the strength of the Wall Street Memes brand and the high level of engagement within the WSM community. With the current momentum, many believe WSM could be the next big thing in the meme coin space.
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– Crypto Fear & Greed Index: https://cryptopotato.com/chatgpt-predicts-next-move-for-shiba-inu-price-september-launch-of-new-meme-coin-wall-street-memes/(https://alternative.me/crypto/fear-and-greed-index/)
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– Youtuber No Bs Crypto: https://cryptopotato.com/chatgpt-predicts-next-move-for-shiba-inu-price-september-launch-of-new-meme-coin-wall-street-memes/(https://www.youtube.com/watch?v=EWIybxzMNVM&pp=ygUYd2FsbCBzdHJlZXQgbWVtZXMgY3J5cHRv)
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