- October and February are mostly bullish for SHIB, with a bearish momentum caution in September
- SHIB formed a rare golden cross in September
In a world of volatile meme cryptocurrencies, Shiba Inu is a very pivotal one. Historically, two months in a year are more profitable for SHIB than others: October and February, offering various unique merits. At the time of writing, SHIB is trading at $0.00001294 (0.94%) and has a volume of $253.85 million and a market cap of $7.63 billion.
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Shiba Inu’s Seasonal Surge
October is the most explosive month for SHIB, mostly giving stellar returns. The previous year’s chart shows a staggering 213.1% increase, with a median gain of 8.21%. This makes the month the best window for the meme coin. Also, SHIB has never ended October in the red zone, solidifying its distinction as the month where gains are the norm.
A great example would be October 2021, which saw the coin rocket by a whoping 833%.
According to data given by CryptoRank, historically, SHIB has given average returns of +9.26%, with a median of +10.9%. The token has posted positive returns for February in most recorded years: +20.3% in 2022, +1.59% in 2023, and an impressive +41.3%.
Understanding Patterns of SHIB
Why do these months outperform the rest? Let’s take a look…
In October, market sentiment often changes as investors get ready ahead of year-end or following key events in the broader cryptocurrency world. February’s reliability can be connected to the post–New Year optimism and year-starting investments.
Even though analysts caution that three years of positive data cannot make sure of future success, everyone is keeping an eye on September due to the rare golden cross. This has sparked optimism among traders.
Also Read: Shiba Inu (SHIB) September Forecast: SHIB May Break Resistance at $0.00001308
According to Trading View data, SHIB is now experiencing resistance (blue) at $0.00001307 and has a support level (yellow) of $0.00001264.The MA indicator shows that right now the memecoin is experiencing bullish momentum. The RSI indicator shows that the coin is experiencing normal buying activity of 64.61 and 59.29 median.
Community Sentiment and Final Verdict
The trading community is voting for an 87% bullish trend for SHIB, and the rest 13% is having doubts about a bearish trend, according to the data of CoinMarketCap.
In a market as volatile as cryptocurrency, historical data cannot fully promise riches, but it can help with guidance. This guidance, with the close monitoring of the coin and macroeconomic developments, can help in predicting the performance of the coin. This can definitely help with investment timing.
Also Read: Shiba Inu (SHIB) Could Reach $0.000032 as Market Momentum Gains Steam
