Shiba Inu Could Rise 422% Next Month Based on Historical Data

Shiba Inu (SHIB) could potentially increase 422% in the coming month if historical data pertaining to its price performances in October is anything to go by.

Shiba Inu has been locked in a battle with market bears as it struggles to break past the elusive $0.00008 price point. This psychological barrier has proven formidable, with resistance repeatedly thwarting its attempts to surge beyond.

However, as the markets approach the month of October, historical data suggests that brighter days may be ahead for Shiba Inu.

Since its inception in 2020, Shiba Inu has seen its fair share of price fluctuations in the month of October. Besides Shiba Inu, the broader crypto market typically observes bullish price movements in October.

Adding to this speculation surrounding this pattern, data provided by CryptoRank, a crypto analytical platform, October has historically been a month of significant price movements for Shiba Inu.

Shiba Inu Monthly Returns | CryptoRank

In October 2021, Shiba Inu defied expectations by skyrocketing an astonishing 822%. This meteoric rise culminated in the all-time high of $0.00008845, leaving investors astonished by the token’s performance.

Additionally, in October 2022, Shiba Inu managed to notch a respectable 10.4% gain, despite enduring a 6.43% decline in the preceding month of September 2022.

Shiba Inu Sees Average 422% Rise

The historical data paints a clear picture – October has consistently been a month of remarkable gains for Shiba Inu. CryptoRank’s data puts SHIB’s average performance in October to a 422% increase. While this historical trend may appeal to investors, it’s essential to exercise caution.

It’s crucial to note that these historical insights should not be misconstrued as investment advice. The cryptocurrency market is notorious for its unpredictability, and past performance does not guarantee future results.

Nonetheless, for those speculating on Shiba Inu‘s potential future performance, it’s worth noting that if the cryptocurrency follows its average October increase of 422% from its current price of $0.00000735, it could potentially reach a price point of $0.00003101.

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