Shiba Inu has seen an uptrend recently, recovering from losses earlier in the year. This uptrend aligns with high expectations for the meme coin in Q4 2024, with the price anticipated to more than double.
October is historically the most bullish month for Shiba Inu, with the coin never ending the month in the red. Data from CryptoRank indicates an average return of +283.4% in October, suggesting the price could triple to around $0.00006.
October 2024 is set to be the first time in three years that Shiba Inu ends September in the green, potentially mirroring the 2021 trend, where the coin saw an 833% increase. This could send SHIB towards a new all-time high.
While Q4 often sees positive market movements, Shiba Inu's historical data shows negative returns for November and December, with -15.9% and -6.12% respectively. This suggests October might be an optimal time for investors to sell and re-enter in December.
If Bitcoin's uptrend continues through the end of the year, it might push SHIB's price higher into the new year. The article is based on data from CryptoRank and includes charts from Tradingview.com.
