As a seasoned analyst with a decade of experience in the crypto market, I’ve seen my fair share of bull runs and bear markets. The trend of Shiba Inu in Q4 2024 is particularly intriguing, given its historical performance in October. If history repeats itself, we could be looking at a triple-digit return for SHIB this month.
Recently, Shiba Inu has seen an upward trend, bouncing back from losses that occurred in the latter half of the second and third quarters of this year. As we move into a new month, this recovery fuels optimism for the meme coin, particularly in Q4 when analysts predict its price to more than double. This report delves into the reasons why Shiba Inu’s price predictions are soaring as we approach the final quarter of 2024, using past data as a guide.
The Most Bullish Month Of The Year For Shiba Inu
Based on past trends, it appears that the last quarter of 2024 might be particularly favorable for Shiba Inu, with a strong upward momentum predicted. Particularly noteworthy is October, a month that has consistently shown positive performance for the meme coin, never closing in the red. If this pattern persists, we can anticipate the SHIB price to potentially continue its ascent from the current point.
According to information on CryptoRank, the Shiba Inu’s price has yielded an average monthly increase of approximately 283.4%. If this trend continues, the Shiba Inu’s price might potentially triple by the end of October.
If things go as planned, the SHIB price might reach approximately 0.00006 dollars this month. Furthermore, if the ongoing recovery holds until the end of the year, as anticipated, SHIB’s price could potentially hit a new record high before 2021 concludes.
In simpler terms, it’s been three years since Shibu Inu (SHIB) finished September with a positive balance, and October followed with an astonishing 833% rise in just one month. This coming year, 2024, is the first instance where SHIB is closing the year in green again. If history repeats itself as it did in 2021, we could potentially witness SHIB reaching a new record high price.
Will Q4 End In Green Or Red?
Despite traditionally strong performances in Q4, Shiba Inu’s price hasn’t fared well following October. As per CryptoRank, the average returns for November and December have been unfavorable, standing at -15.9% and -6.12% respectively, suggesting a decline rather than growth.
The current situation doesn’t seem favorable for Shiba Inu’s price, which might indicate a suitable moment for investors to cash out. If this trend persists, October might be a wise choice to exit the altcoin and potentially re-enter in December. Conversely, if Bitcoin‘s upward trend extends till year-end, it could lead to an increase in Shiba Inu’s price as we move into the new year.
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2024-10-01 02:46