With the onset of October, the financial sector is abuzz with expectations concerning the future prospects of Shiba Inu. If we take cues from historical trends, there’s a possibility that this cryptocurrency might embark on another period of substantial growth. Back in 2021, Shiba Inu witnessed an impressive surge of 822%, and even in 2022, it managed to achieve a modest uptick of 10.4%. Could SHIB be destined for a similar trajectory this year? Presently, this meme coin is trading at $0.00000691. Contrary to earlier expectations, SHIB underwent a significant decline of 4.15% during the day. Additionally, it earned the classification of being one of the top performers on the downside, owing to an 8.74% weekly dip.
As October has just commenced, this article will primarily concentrate on projecting the expected performance of the meme coin for the remainder of this month.
Shiba Inu’s Mid-Month Journey: October Predictions
The meme coin has faced challenges in fostering confidence among investors due to its continuous decline in price, which has subdued their enthusiasm. The previous excitement that surrounded SHIB seems to have diminished, causing potential investors to pause when contemplating entry points. The concept of “buying the dip” has lost its appeal, given that the token’s value diminishes day by day.
Changelly, a well-known firm specializing in on-chain metrics and price predictions, has presented a somewhat mixed perspective on Shiba Inu. According to Changelly’s analysis, SHIB’s price is expected to witness a 4% uptick on October 15, reaching a value of $0.000007521. However, in the days following, there’s a possibility of a significant decline, with the price falling by 12% to reach a low of $0.000006292.
Nevertheless, there are optimistic expectations for the meme coin as it concludes in October and enters November. It’s important to note, though, that the bearish sentiment has preceded the bullish outlook in the SHIB market.