Shiba Inu (SHIB) has been struggling to break past the $0.00008 price point, facing resistance from market bears. However, historical data suggests that October could bring brighter days for Shiba Inu. In past years, Shiba Inu has experienced significant price fluctuations during October, and the broader crypto market has typically observed bullish price movements during this month. CryptoRank data also confirms that October has historically been a month of substantial price movements for Shiba Inu.
In October 2021, Shiba Inu defied expectations by skyrocketing 822% and reaching an all-time high of $0.00008845. In October 2022, it achieved a respectable 10.4% gain despite a previous decline in September. Looking at the historical data, Shiba Inu has seen an average 422% increase in October. However, it’s important to exercise caution as past performance does not guarantee future results in the cryptocurrency market.
While these historical insights should not be considered investment advice, those speculating on Shiba Inu’s potential future performance may find it interesting that if the cryptocurrency follows its average October increase, it could potentially reach a price point of $0.00003101 from its current price of $0.00000735. But it’s crucial to conduct thorough research and be aware of the market’s unpredictability.