ETH Whales on Rampage: BitMine Snags 138K ETH as $3,000 Holds Firm – Bulls Gear Up for $4,000 Moonshot 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
FxWirePro- Major Crypto levels and bias summary 
IBM Nears $11 Billion Deal to Acquire Confluent in Major AI and Data Push 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
ETH Bulls Smash Trendline – $4,000 Next as Whale Squeeze Tightens 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
SK Hynix Shares Surge on Hopes for Upcoming ADR Issuance 
SK Hynix Labeled “Investment Warning Stock” After Extraordinary 200% Share Surge 
Bitcoin Yawns at Fed Cut – Coiled Tight at $92K: $90K Hold = Straight Shot to $100K 
Australia’s Under-16 Social Media Ban Sparks Global Debate and Early Challenges 
Nvidia Develops New Location-Verification Technology for AI Chips 
FxWirePro- Major Crypto levels and bias summary 
 Future: ChatGPT Weighs In on Shibarium and FOMC’s Role in a 2024 Comeback - EconoTimes)
After a 62% drop from its 2024 peak, Shiba Inu (SHIB) may have a path to recovery. ChatGPT identifies Shibarium’s development and the Federal Reserve’s upcoming decisions as key drivers for a potential price rise before the year ends.
ChatGPT Provides Insight on SHIB's 2024 Potential
The price of the second-largest meme coin by market capitalization surged to a peak of $0.00003629 in the first quarter of 2024. However, it has been declining ever since, and it is now selling at approximately $0.00001364, a 62% drop from its annual peak.
Given the anticipation within the SHIB community for a potential revival, CryptoPotato decided to inquire with ChatGPT about the likelihood of such a development occurring before 2024 comes to a close.
Shibarium’s Role in SHIB’s Future Growth
According to the AI-driven chatbot, it's tough to say for sure what will happen in such a situation, but it did list a number of potential reasons, the most crucial of which being the development of Shibarium.
The Shiba Inu ecosystem could benefit from the layer-2 scaling solution's scalable, cost-effective, and efficient infrastructure. The protocol has been significantly improved over the last several months, and there are several in the industry who think that the SHIB price can profit from its continued development.
“If Shibarium gains traction and sees increased adoption, it could boost demand for SHIB, as users would need the token for transaction fees and interacting with the network,” according to ChatGPT.
Shiba Inu Burn Strategy Targets Scarcity
Next on the agenda is Shiba Inu's burning program, the long-term objective of which is to decrease the massive supply of meme coins in circulation, therefore increasing its scarcity and, perhaps, its value (assuming demand remains stable or increases).
The impending FOMC meeting, which is slated to be held on September 18, is another probable reason that suggests SHIB's upswing could happen this month. The US Federal Reserve is predicted to decrease interest rates for the first time in years following this meeting. This shift lowers the cost of borrowing money and may attract more investors to riskier assets like cryptocurrency.
