Shiba Inu Price May Surge 200% to $0.00006 This October

Shiba Inu has experienced a recent upward trend after facing losses for a significant part of the second and third quarters this year. This recovery as we enter the new month aligns with the high hopes for the meme coin, particularly in Q4, when the price of the altcoin is anticipated to more than double. This report delves into historical data to explain why the projections for Shiba Inu’s price are optimistic as we approach the last quarter of 2024.

The Most Optimistic Month of the Year for Shiba Inu

Historical performance indicates that the end of September is set to usher in the most promising quarter of 2024 for Shiba Inu. This is particularly evident in October, which has not recorded a negative close for the meme coin. Should this trend persist, the SHIB price could continue to rise from this point onward.

Data from the CryptoRank website reveals that Shiba Inu’s price has averaged a return of +283.4% during October. Such average returns could suggest the possibility of the Shiba Inu price tripling by the end of this month.

If this occurs, it could place the SHIB price around the $0.00006 mark this month. Moreover, if the recovery trend persists through the year’s end, the meme coin’s price could approach a new all-time high before the year concludes.

It’s worth noting that the last time SHIB finished September in the green was in 2021, which saw an astonishing 833% rise in October alone. Now, 2024 stands to be the first year in three when the SHIB price is once again ending in positive territory. A repetition of the 2021 trend could also propel SHIB towards a new all-time high.

Will Q4 Conclude in Positivity or Negativity?

Although the crypto market typically enjoys a resurgence in Q4, Shiba Inu has not been particularly fortunate after the month of October. According to CryptoRank, the average returns for November and December are negative at -15.9% and -6.12%, respectively.

This trend does not bode well for the Shiba Inu price and might indicate a prime opportunity for investors to sell. If this pattern continues, October could represent a strategic time to exit the altcoin and consider reentering in December. However, should the Bitcoin uptrend maintain momentum into the year’s end, we may see SHIB’s price rise heading into the new year.