Despite the cryptocurrency market's overall downturn, Shiba Inu (SHIB) has been bucking the trend, experiencing substantial gains on its daily chart. Machine learning and artificial intelligence (AI) algorithms predict that this upward momentum will continue, albeit modestly, in the coming weeks.

Shiba Inu has made a surprising move, advancing over 7% within hours, without any significant announcements or developments over the weekend. The only notable event was SHIB becoming one of the payment methods on CoinGate last week.

According to the latest forecast by the advanced machine learning algorithm at the crypto analytics platform PricePredictions, obtained on May 14, Shiba Inu might continue to rise during May, potentially reaching a price of $0.000024 by May 31, 2024. This would represent a 1.61% increase by the end of the month, provided the algorithm's prediction, based on technical analysis indicators like average true range (ATR), relative strength index (RSI), and Bollinger Bands (BB), is accurate.

Currently, Shiba Inu is trading at $0.00002362, indicating a 7.18% gain in the last 24 hours, a 0.11% increase over the previous seven days, and a 4.18% advance in the last month. The token has also grown by 130.04% since the beginning of the year.

The sentiment on SHIB's 1-month technical gauges is bullish, suggesting a 'buy' signal. Oscillators are in the 'buy' zone at 2, while moving averages (MA) point to a 'strong buy' at 7, according to the most recent TradingView data.

Renowned crypto trading expert Ali Martinez has also noted that SHIB has broken the upper boundary of a descending parallel channel at $0.00002444, potentially leading to an "upswing to $0.00002954," a 20% increase.

The recent addition of Shiba Inu as a payment method on CoinGate, integrated with Polygon (MATIC) and Binance Smart Chain (BSC), may have contributed to the token's surprising price movements. However, there have been no other major news or announcements over the weekend related to the Shiba Inu ecosystem, suggesting that technical factors are the primary drivers of its sudden rise.

While the AI algorithm's prediction may prove accurate, considering SHIB's recent price action, it is still a forecast that may or may not materialize. The crypto market can be unpredictable, so it is essential for investors to conduct their own research and stay informed about any SHIB-related news.