Shiba Inu Coin (SHIB) Price Could Soar in July – If History Follows Again

Shiba Inu Coin (SHIB), the popular meme cryptocurrency, had its worst performance since May 2022 in early summer. At the end of June, SHIB price plunged more than 33% to $0.000017.

However, time waits for no one, and we need to look to the future. Now is a good time to review price history and explore the possible trend of Shiba Inu Coin in July.

For the SHIB community, July does have reason for optimism. According to CryptoRank, the median profit rate of Shiba Inu Coin tokens in the second month of summer was 11.8%.

In fact, the past few Julys have been "green" for SHIB. Its price rose by 11.8% in July 2023, and by 13.4% in the same period of 2022. Granted, 2021 — the year the meme cryptocurrency came to prominence — has been pretty bleak, with prices plunging nearly 30%. But that was a pullback after a nearly fivefold increase in the previous three months, so this correction isn’t the worst possible scenario.

In contrast, June has never been a good month for Shiba Inucoin, and history seems to be repeating itself in 2024.

Does this mean SHIB is bound to rise next month? The answer is no. But is price history a good benchmark? The answer is yes.

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