According to the advanced analysis provided by OpenAI's ChatGPT-4, meme-based cryptocurrency Shiba Inu (SHIB) is projected to skyrocket by the end of 2024.

AI predicts that SHIB could gain more than 70% by December 31, 2024, with preliminary estimates placing the token's trading range between $0.000005 and $0.00003.

In developing its trading model, ChatGPT-4 has identified several factors that could drive the value of the altcoin. These include current market sentiment, regulatory changes, macroeconomic conditions, and the overall utility of the token. According to the AI model, the actions of whale investors could also impact SHIB's volatility.

Analyst SHIB Knight shares a similar outlook, believing that the meme token is poised to form a parabolic curve, indicating a potential price surge. 

If bullish sentiment on SHIB strengthens and the uptrend continues, the market could see a significant influx of investors looking to capitalize on the cryptocurrency's potential rally.

If Shiba Inu indeed gains value, this upward momentum will likely affect the entire meme token sector.

Contributing to the increased growth expectations is the ongoing token burn process, which has removed 95.44 million tokens from circulation in the past week alone.