- Shiba Inu is historically known for significant October growth.
- In 2021, SHIB’s value multiplied by nearly tenfold during October.
- The two-year median October return for SHIB is over 420%
Shiba Inu is gearing up for its biggest month, if past performance proves predictive. The prominent meme coin has a knack for explosive growth in October, defying typical market trends. With the arrival of “Uptober,” SHIB holders hope the token repeats or even exceeds its astronomical 833% surge last year.
Analyzing price data accumulated by CryptoRank reveals an eye-popping pattern in SHIB’s October returns. In 2021, the joke currency shocked skeptics as SHIB’s value multiplied nearly tenfold in a single month against all odds. The following October brought a still impressive 10% gain, even as crypto cooled off.
The two-year median October return exceeds a staggering 420% for SHIB based on available data. That eclipses already lofty expectations that the last quarter is typically favorable for cryptocurrencies. SHIB has consistently upended conventional wisdom during the spooky season.
Shiba Inu remains extremely bearish
Of course, betting on a quadruple-digit percentage spike may be overly optimistic in today’s bearish climate. But Shiba Inu has shown time and again the ability to defy gravity when least expected. Another month of solid returns could provide relief to weary investors.
Some analysts strike a more cautious note, arguing the limited data makes predictions risky. A two-month sample may not constitute a true trend, especially for an asset as volatile as SHIB. But the coin’s October anomaly is difficult to ignore when October 31st nears.
At a minimum, SHIB seems to channel mysterious forces during the Halloween timeframe. The unwavering pattern is too pronounced to be written off as sheer luck or coincidence. Savvy traders may look to capitalize on the token’s history of flourishing in October’s turning tides.
For SHIB supporters desperate for a catalyst, the calendar turning injects optimism. If SHIB even modestly repeats prior breakouts, substantial upside could emerge ahead. But a sentiment shift could also draw in sidelined investors expecting seasonal exuberance.