SHIB Price Holds Steady Amid Conflicting AI Predictions and Technical Signals

Shiba Inu (SHIB) is currently trading with a 2.98% daily gain, showcasing resilience despite mixed signals in the market. On August 7th, Google's Gemini AI issued a bearish forecast, predicting a 16.388% decline in SHIB's price. However, technical indicators suggest a potential breakout, creating a complex narrative for the cryptocurrency. This divergence between AI predictions and technical analysis has left investors weighing opposing sentiments as SHIB navigates this critical juncture. The coming days will be pivotal in determining whether the token follows Gemini's bearish outlook or validates the bullish technical patterns emerging on the charts.

SHIB Price Holds Despite Google AI Predicting 16% Drop - Technical Breakout Signals Mixed

Shiba Inu trades with 2.98% daily gains amid conflicting signals as Google's Gemini AI forecasts a significant decline while technical indicators suggest a potential breakout. The SHIB price faces a complex narrative this week, with recent developments creating opposing market sentiments.

Google's AI platform Gemini issued a bearish forecast on August 7th, predicting a 16.388% decline in shiba inu to $0.00001 by the end of August. The prediction cited weak technical indicators and reduced token burn activity as primary drivers for the anticipated downturn.

Despite this negative forecast, SHIB has demonstrated resilience with a 2.98% price increase today. Trading volume on Binance spot market reached $21,472,108 in the last 24 hours, indicating sustained interest despite bearish predictions.

Shiba Inu Burn Rate Surges 48,244% as Price Aims for $0.00002

Shiba Inu's token burn rate skyrocketed 48,244% in 24 hours, with over 87 million SHIB permanently removed from circulation. The memecoin held firm above the $0.000010 support level as traders eye a potential push toward $0.00002.

On-chain data reveals whale activity intensified alongside the burn surge, with large transactions jumping from 1.28 trillion to 3.69 trillion SHIB. Shibarium, Shiba Inu's layer-2 network, continues gaining traction with 1.51 billion cumulative transactions and 4.69 million daily interactions.

While the current burns represent a fraction of SHIB's 589.24 trillion total supply, the accelerated removal mechanism could gradually tighten availability. Market watchers note the simultaneous technical strength and fundamental developments create favorable conditions for price appreciation.

SHIB Price Surges 14% Amid Mixed Technical Signals

Shiba Inu (SHIB) continues its bullish momentum with a 2.85% daily gain, extending a two-week rally of 14%. The meme coin's recent performance reflects shifting sentiment in the altcoin market, though technical indicators paint a conflicting picture.

While the Relative Strength Index (RSI) at 58.79 suggests neutral positioning, stochastic indicators flash overbought warnings. Google's Gemini AI projects a 16.388% decline by month-end, citing weakening technicals and slowing token burns—despite 600 million SHIB being removed from circulation recently.

The divergence between burn mechanics and price action underscores the speculative nature of meme coin markets. Traders face competing narratives: sustained retail enthusiasm versus algorithmic predictions of imminent correction.

Shiba Inu Price Breakout Signals Bullish Targets Toward $0.00002500

Shiba Inu (SHIB) has broken out above a key descending channel, signaling potential bullish targets up to $0.00002500. The price is consolidating NEAR the breakout level, forming higher lows, which suggests steady upward pressure and accumulation by buyers.

SHIB futures show strong participation, with trading volume up 40% and open interest rising 8.79%, reflecting growing market confidence. At the time of writing, SHIB is trading at $0.00001377, with a 24-hour trading volume of $354.32 million and a market capitalization of $8.10 billion. The coin has gained 2.37% in the past 24 hours.

Crypto analyst Jonathan Carter noted that SHIB's breakout from a descending channel formation on the daily chart could mark the beginning of a bullish surge. If momentum continues, upside targets include $0.00001400, $0.00001750, $0.00002050, and $0.00002500.