As a seasoned researcher and investor who has witnessed the meteoric rise of Dogecoin (DOGE) and other meme coins, I can’t help but feel a sense of intrigue when it comes to Shiba Inu (SHIB). With its fourth anniversary approaching in August, I find myself keeping a watchful eye on this popular meme cryptocurrency.
During its fourth year, Shiba Inu (SHIB) is garnering attention from crypto investors and supporters alike, as they anticipate a possible price surge. Traditionally, the month of August has shown positive trends for SHIB, with an average increase of about 2.7% and a median growth of 3.4%.
It’s unusual when both the midpoint (median) and the total sum divided by the count (average) are positive numbers. This scarcity often serves to reinforce our assumptions. Given this rarity, it boosts the likelihood that SHIB might close August with a profit, fueling hope for a bullish market trend as summer draws to a close.
Originating in 2020, Shiba Inu, similar to a meme currency, was fashioned by the enigmatic figure known as Ryoshi – inspired by the Dogecoin (DOGE) craze. Today, it stands as the 13th most significant crypto asset globally, boasting a market capitalization of $9.37 billion and daily trading volume of approximately $220 million.
Starting from just 0.000000000056 cents, it reached a record peak of $0.00008616 in October 2021, marking an astonishing 150 million percent rise.
Community is key
Due to this uncommon market behavior, the well-liked meme crypto amassed approximately 3.8 million participants within its community, which goes by the name Shiba Inu Army.
A community-led philosophy has fueled the creation of a vast network encompassing projects such as ShibaSwap, Shibarium, numerous NFT collections, a metaverse venture, and the Shiba Eternity game.
Looking towards August, the question arises: will SHIB‘s past trends repeat themselves? Its previous track record, featuring favorable historical averages, presents a sliver of optimism for those anticipating a potential price surge around SHIB’s anniversary.
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2024-08-01 14:59