Expectations for Dogecoin and Shiba Inu prices have deviated as a machine learning algorithm predicted what the prices of these two meme coins will be in June 2024. The machine learning algorithm expects the price of Shiba Inu to perform well in the coming month, but is more bearish on Dogecoin.
Shiba Inu is expected to reach its previous ATH level in June 2024
Coincodex's machine learning algorithm is incredibly bullish on the Shiba Inu, especially in June 2024, when the cryptocurrency market is expected to be bullish. According to the prediction, the price of Shiba Inu will rise towards an all-time high of $0.00008 next month.
Specifically, the machine learning algorithm predicts a price for Shiba Inu of $0.00008086, up 229% from its current price of $0.000025. This is only about 10% lower than its all-time high of $0.00008845, meaning the meme coin could potentially reach new all-time highs if this result comes to fruition.
Looking at the shorter term, the machine learning algorithm predicts that the price of SHIB will rise this week, with a 5-day value forecast of $0.00003203, which is a 30% increase from current levels, meaning Shiba Inu prices could end May on a higher note.
In the long term, the algorithm expects the SHIB price to reach an annual high of $0.000117 in 2025, which would be a new all-time high. However, the algorithm does not expect a new all-time high to be recorded until 2029, when the annual high for that year would be $0.000157.
Dogecoin Price Prediction
Unlike Shiba Inu's prediction, the machine learning algorithm is much more bearish on Dogecoin's price, predicting a price of around $0.143 in June 2024, which would represent a drop in value of almost 14% from the levels DOGE is currently trading at.
The short-term trend is bearish as well, with a 5-day price forecast of $0.1646, a 1.0% decline. However, Dogecoin indicators remain bullish and the fear and greed index is showing greed. This means that investors are still willing to invest in the meme coin for now.
The machine learning algorithm predicts that Dogecoin’s price will reach $0.72 in 2025, and the meme coin’s price is not expected to surpass $1 until 2029, at which point it will hit a yearly high of $1.42 before declining.
Dogecoin and Shiba Inu Prices
At the time of writing, Shiba Inu's price is trading at $0.00002557, up 3.82% from the previous day, while Dogecoin's price has fallen 1.44% in the same period, trading at $0.16.
Featured image created by Dall.E, chart taken from Tradingview.com
