Popular meme-inspired cryptocurrency Shiba Inu (SHIB) may be on the verge of a historic month, according to price history data showing a potential 283% increase in October.
Historical Growth Potential
Data from CryptoRank indicates that the Shiba Inu token (SHIB) is set to significantly increase in price in the upcoming October. The average return for this month is 283.4%, while the median is 10.4%. Despite the median being a more accurate indicator, SHIB's price history includes periods where it surged by triple-digit percentages in 30 days.
Impact of Past Octobers
Three years ago, when the Shiba Inu token first appeared on the crypto market, its price skyrocketed by 833.6% in October, even though it had been more than six months since its creation. The next 10 months were less dramatic but still positive, with SHIB prices rising by 10.4% in 2022 and 6.04% the following year.
Future Prospects
What will happen this October remains a mystery, as predicting the crypto market is rarely straightforward. However, the last three times October has been a positive month for SHIB, so this year might not be an exception.
While the future growth of SHIB cannot be guaranteed, historical data suggests that October could be a favorable month for this cryptocurrency.
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