As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I can confidently say that October has been a month of surprises for Shiba Inu (SHIB) investors in the past. Given the historical data showing an average return of 283.4% and a median of 10.4%, it’s reasonable to expect some significant price fluctuations this year as well.
As a crypto investor, I’m excitedly looking forward to the upcoming month, given the historical trends of Shiba Inu (SHIB). If past performance is any indication, October could potentially bring a staggering 283% surge in the value of this meme-inspired token.
Consequently, data from CryptoRank indicates that the Shiba Inu token (SHIB) might nearly triple in price during the month of October. This significant increase is attributed to a projected average return of 283.4% for this month, with the median return at 10.4%.
Yes, the latter is a more adjusted indicator, but the second biggest meme cryptocurrency has seen periods in its price history when it skyrocketed by triple-digit percentage in a 30-day span.
So, you can’t completely deny the power of an average.
Will history repeat itself?
Nevertheless, a significant portion of its current value can be attributed to the fact that the Shiba Inu token saw an astonishing increase of 833.6% in price just three years ago, particularly in October, even though it was already over half a year old at that time.
Over the course of the following ten months, things weren’t particularly prosperous, but they ultimately concluded in a favorable manner. Consequently, in 2022, the price of SHIB experienced a growth of 10.4%, and this was followed by a further increase of 6.04% in the year that followed. Indeed, October 2022 was quite the “Uptober”!
Predicting global events or crypto market trends with certainty is often unreliable. Historically speaking, October has been a ‘green’ month for Shiba Inu (SHIB) on three occasions. So, while it’s not guaranteed that the trend will continue this time, there’s a possibility that it might.
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2024-09-24 19:12