As October dawns, the crypto community eagerly anticipates the month, humorously dubbed “Uptober” for its historical penchant for bullish trends. However, amidst the laughter, Shiba Inu (SHIB), originally a meme coin, emerges as a serious contender in the crypto arena.
Also read: VanEck Set to Debut in the Ethereum Futures ETF Space
Shiba Inu’s pioneering October
CryptoRank’s documentation of SHIB’s price history paints a compelling picture. In October 2021, SHIB defied expectations with a notable surge of 833.6%, leaving investors in sheer disbelief.
The subsequent year witnessed a more restrained yet significant growth of 10.4%. SHIB’s monthly returns, as reported by CryptoRank, reveal an astonishing median return rate of over 420% for October. Such consistent outperformance during this period is an anomaly in the volatile crypto universe.
Also read: Shiba Inu: SHIB Digital ID All Set For October Debut
Considering the current crypto landscape, it may appear ambitious to anticipate SHIB’s quadrupling in value within the coming month. Skeptics argue that relying on a mere two-year sample size is insufficient to make definitive forecasts, and they are correct.
Cryptocurrencies remain inherently volatile, and past performance is no guarantee of future results. Nonetheless, SHIB’s remarkable Octobers open the door to intriguing possibilities.