With the arrival of “Uptober,” Shiba Inu holders hope the token repeats or even surpasses its massive 833% jump in 2022
Shiba Inu is preparing for its biggest month, if past performance proves predictive. The meme coin has a knack for explosive growth in October, defying typical market trends. With the arrival of “Uptober,” Shiba Inu holders hope the token repeats or even surpasses its massive 833% jump in 2022.
Analysing price data accumulated by CryptoRank reveals an astonishing pattern in Shiba Inu’s October returns. In 2021, the currency stunned sceptics as Shiba Inu’s value multiplied around tenfold in one month against all odds. The following October brought a still impressive 10% gain, even as the crypto market was down.
The two-year median October return surpasses a massive 420% for Shiba Inu based on available data. That eclipses already huge expectations that the final quarter is typically favourable for crypto currencies. Shiba Inu has consistently upended traditional wisdom during the spooky season.
Speculating on a quadruple-digit percentage rise may be overly optimistic in today’s bearish environment. But Shiba Inu has shown time and again the ability to rise when least expected. Another month of strong returns could provide relief to weary investors.
Some experts strike a more cautious note, contending the limited data makes forecasts risky. A two-month sample may not constitute a real trend, particularly for an asset as volatile as Shiba Inu. But the coin’s October anomaly is hard to ignore when October 31st approaches.
At a minimum, Shiba Inu appears to channel supportive forces during the Halloween timeframe. The steady pattern is too pronounced to be dismissed as luck or coincidence. Savvy traders may look to capitalise on the token’s history of flourishing in October’s turning tides.
