Shiba Inu is currently trading at $0.0000730, and it is mostly attracting bearish sentiment in the indices. SHIB failed to spike in price despite the launch of the most-anticipated Shibarium layer-2 network in August last month. Shibarium did little to nothing to help SHIB scale up in the charts as the token printed new lows for three consecutive weeks.
Nonetheless, keeping the past and present aside, will Shiba Inu rally in October 2023, and can it start the month on a positive note? In this article, we will highlight what Shiba Inu’s price could be in October next month.
What Will Shiba Inu’s Price Be in October 2023?
Leading on-chain metrics and price prediction firm Changelly has painted a bearish picture for Shiba Inu next month. According to the price forecast, SHIB might dip further from its current levels in the next two weeks. The forecast suggested that Shiba Inu might fall to $0.000006789 on October 1, 2023, which is a downside of nearly 8% from today’s price.
The prediction for the whole of October remains bearish, as SHIB has nothing to attract newer investors into the fold. The forecast suggested that the dog-themed token might not delete its fifth ‘zero’ next month. Therefore, SHIB will remain trading with five ‘zeroes’ in the next six weeks, delivering no profits to investors.
The token has no saving grace currently, as the majority of its projects have been released. The only light at the end of the tunnel could be when Shibarium begins to burn SHIB tokens. However, the team has not provided a tentative burn date, and it is not known how many tokens they would send to the dead wallet either.
At press time, SHIB was trading at $0.0000730 and was up 0.5% in the 24-hour day trade. SHIB is down nearly 92% from its all-time high of $0.00008616, which it reached in October 2021.