Shiba Inu has been on an uptrend recently, after suffering losses for the better parts of the second and third quarters of the year. This recovery going into the new month plays into the high expectations for the meme coin, especially in Q4, when the altcoin’s price is expected to more than double. Using historical data, this report elaborates on why the are high going into the last quarter of the year 2024.
The Most Bullish Month Of The Year For Shiba Inu
According to historical performance, the end of September is about to usher in the most bullish quarter of the year 2024 for Shiba Inu. This is especially true for the month of October which has never ended in the red for the meme coin. If this trend holds, then the SHIB price could continue to rise from here.
Data from the shows that the Shiba Inu price has seen an average return of +283.4% in the month of October. This average return could mean that the Shiba Inu price could triple by the time the month of October is over.Will Q4 End In Green Or Red?
While the crypto market has often seen a good turn in Q4, the Shiba Inu price has not been very lucky after the month of October. According to CryptoRank, the average returns for November and December are in the negative with -15.9% and -6.12%, respectively.This doesn’t bode well for the Shiba Inu price and could suggest a good time to sell for investors. If this follows, then October could be a and move back in in December. However, if the Bitcoin uptrend continues into the end of the year, it could see the SHIB price rise into the new year.