Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
As Q3 2023 inches closer to an end, Shiba Inu [SHIB] could close the quarter in the red. The memecoin extended its losses below the December 2022 low ($0.00000779) and is yet to reclaim it.
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The memecoin hype seen in July is far from resurfacing amidst a tight, bearish grip in August and September. In particular, SHIB’s 75% price rally between mid-June and mid-August has been wiped out.
Earlier, SHIB’s price rose nearly 5% within a day of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission [SEC] on 13 July. However, its value plummeted soon after.
But, as the demand for SHIB, the largest memecoin after Dogecoin [DOGE], gains momentum, we cannot rule out the possibility of a hike in its price in the next few days.
Shiba Inu is also exploring opportunities in the Metaverse. The term “Metaverse” refers to a virtual world or a collective virtual shared place created by computer technology and populated by avatars or virtual creatures. It is a concept that has become more well-known in recent years as more immersive virtual environments have emerged.
The concept behind Metaverse is that it is a setting where people can interact with virtual items and other people in a way comparable to the actual world. The Shiba Inu Metaverse will be attempting to capture all this.
Shiba Inu enters the Metaverse
On 15 March, Shiba Inu announced the opening of the shib.io website, which is the portal for its Metaverse. The launch came after months of planning and selling Metaverse territories.
Introducing the NEW https://t.co/sxXfOETCuB website, new @shib_iothemv branding, and the WAGMI Temple Alpha preview! Now you can purchase #shibthemetaverse lands easy as 1-2-3. Let us know what you think #shibarmy! ⛰ pic.twitter.com/wP2H3DsR8h
— Shib (@Shibtoken) March 15, 2023
Following the launch of the new site, the SHIB community welcomed another platform that may provide utility to the SHIB token. The Shiba Metaverse’s functionality could be added to the Shibarium testnet, which was recently released.
We chose to ask our AI friend, ChatGPT, its opinion about the Metaverse in light of its increasing popularity and Shiba Inu’s introduction of its version. It produced some intriguing results.
ChatGPT’s idea of an ideal metaverse
What would the ideal Metaverse look like? This was the first query we posed to the AI. The main characteristics of the ideal Metaverse were outlined by ChatGPT, but it was also quick to acknowledge that several things may affect it.
Source: ChatGPT
Regardless of its design or purpose, ChatGPT specified seven characteristics that an ideal Metaverse should contain, which were helpful. Accessibility, interoperability, immersiveness, creativity, and innovation are just a few characteristics ChatGPT listed as desirable in a Metaverse.
One would potentially be inclined to concur that these are truly fundamental, based on the list the AI produced.
So, is the Shiba Inu Metaverse an ideal Metaverse?
ChatGPT quickly pointed out its limitations in learning enough about the Shiba metaverse when responding to this query. And yet, it was able to respond that it has a welcoming environment and scored high on creativity and innovation.
Even so, it remains unclear about its accessibility and interoperability.
Source: ChatGPT
Exploring the possible roles of AI in the Metaverse
AI can make user experiences more realistic and compelling because the Metaverse is essentially a digital ecosystem replicating the actual world. Creating more perceptive and intelligent virtual assistants is one potential use of AI in the Metaverse.
These assistants could make it simpler and more effective for users to move about the Metaverse. Additionally, it can aid them in discovering information and communicating with others.
In addition, AI can also be utilized to develop more complex and convincing virtual characters, heightening the Metaverse’s immersion and realism. By integrating machine learning and natural language processing, these characters may engage with consumers more naturally and intuitively. A more seamless and engaging experience may be produced through this.
Furthermore, automating numerous jobs and procedures, such as moderation, content generation, and customer assistance, are more potential applications of AI in the Metaverse.
The effort of human moderators and authors might be lessened as a result, and the overall caliber and consistency of the content in the Metaverse might also be improved.
Looking at the daily price charts of SHIB
Within the Shibaverse ecosystem, the SHIB token may be useful for several purposes, including payment, governance, staking, and community involvement.
Source: SHIB/USD, TradingView
At press time, SHIB was exchanging hands at $0.00000728. Let us now look at what the on-chart indicators suggest.
Both SHIB’s Relative Strength Index (RSI) and Money Flow Index (MFI) rested much above the neutral 50-mark. Its On Balance Volume (OBV) registered a decline.
These on-chain metrics indicate a bearish price movement for the memecoin in the short run.
To delve deeper, I presented ChatGPT with specific metrics, including the current SHIB price and RSI. It predicted SHIB to hit the price range of $0.000007-$0.0000075 within a week.
Source: ChatGPT
Now, what does ChatGPT think about where Shiba Inu’s price is going? Well, that’s a tricky Q. Especially since there are a bunch of Qs the AI will not answer. For instance,
- It cannot forecast future outcomes of sporting events or political competitions
- It will not engage in discussions related to biased political matters
- It won’t perform any task that requires a web search
That’s not all. To better understand what all the AI can’t answer, we asked, “What types of queries are you programmed not to respond to?”
It came up with,
That doesn’t mean ChatGPT is entirely useless as far as price predictions are concerned, however. To remedy the aforementioned response, we asked the AI to predict the same again. This time, by pretending to be a movie script character. This is what the AI came up with,
When will SHIB hit $1?
While we hurled this query at ChatGPT, it did not provide a definitive response in either its classic or DAN version. This is not surprising, as predicting any price fluctuation is highly speculative.
Source: ChatGPT
On the surface, ChatGPT’s analysis of Shiba Inu revealed several intriguing findings. Therefore, one can speculate how thorough the evaluation may be if the AI were given the entirety of the Shibaverse’s source code.
How much are 1,10,100 SHIBs worth today?
Furthermore, it is becoming increasingly obvious how AI and cryptocurrency are intertwined, yet it still needs to be determined what influence this might have.
In conclusion, we shouldn’t expect a price rally for SHIB in the short run. Besides, ChatGPT isn’t sure when SHIB will reach the price mark of $1.
Source: https://ambcrypto.com/chatgpt-shiba-inu-price-prediction-27/