Shiba Inu kicked off October strong, jumping 5% in the last 24 hours while the broader market is also turning green. This move has already sparked talk about whether history is about to repeat itself with another “Uptober.”
Over the past four years, October has been Shib’s best month, averaging a massive 213% gain. With that track record, many are wondering if this month’s Shiba Inu price prediction could play out the same way.
Back in 2021, SHIB exploded more than 833% in just one month, setting one of its wildest runs ever. While moves like that are rare, October still stands out as a strong month, with a median return of +8.2%. By contrast, September usually closes in the red, and November can be shaky too.
Shiba Inu Price Prediction: SHIB Drops to $0.0000118, Lowest Level Since June
SHIB price hit $0.0000118 in August, the lowest level since June, before bouncing again, and is currently trading at 0.00001231 at the time of writing. It’s showing initial signs of a potential bullish reversal after a decline below a major support level in a false breakdown.
Shiba Inu (SHIB) is finally pushing for a breakout from its falling channel after weeks of grinding lower. Kicking off October with a 5% pump, price is now testing the $0.0000123 zone right at the channel’s upper trendline.
If SHIB pulls it off and history repeats, momentum could carry it toward $0.0000136 and $0.0000159, with the bigger bullish target sitting near $0.0000180.
The RSI has already climbed above 60, MACD is flipping positive, and trading volume is up 20% with a market cap of around $200M. All signs point to a solid setup, and Shiba Inu still holds its spot as one of the most recognizable meme coins out there.
Did SHIB Lose Steam And Already Have Its Time? Maxi Doge Has the Answer
With all these downsides over the years, SHIB still holds the crown as the second biggest memecoin in the market. Many challengers like Pepe, Bonk, and even the official Trump memecoin have tried to take that spot, but none have managed to surpass Shiba’s market cap.
The problem is that Shiba Inu’s massive market cap limits price prediction and the kind of gains investors can realistically expect, and unlike Dogecoin, it has been slipping to lower levels year after year since 2021. Dog-themed memecoins tend to spark big hype and often lead the market, but traders usually chase the fresh plays instead of sticking with the OGs.
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The post Shiba Inu Price Prediction: SHIB Exploded 833% Last October – Can It Repeat That Moonshot in 30 Days? appeared first on Cryptonews.
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