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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Shiba Inu Price Could Jump 200% To $0.00006 In October, Here’s Why

Scott Matherson
Scott Matherson
7 months ago
2 mins read
Shiba Inu

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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 expectations for the Shiba Inu price 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.

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Data from the CryptoRank website 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.

Such a rise would put the SHIB price around the $0.00006 level this month. Additionally, if the recovery continues through the end of the year as expected, then the meme coin’s price could be seeing a new all-time high price before the year is over.

Also, the last time that SHIB ended the month of September in the green was 2021, and the month of October went on to see an 833% increase in the space of one month. Now, 2024 is about to be the first in three years when the SHIB price is ending in the green again. A repeat of the 2021 trend would also send SHIB toward a new all-time high.

Shiba Inu returns
Source: CryptoRank

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.

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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 good time to move out of the altcoin 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.

Shiba Inu price chart from Tradingview.com
SHIB price holding in a tight range | Source: SHIBUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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