June 2024 Crypto Market Review: SHIB Plummets 33%, July Rebound in Doubt

June 2024 was a poor month for the cryptocurrency market as a whole, and one of the most affected cryptocurrencies was Shiba Inu (SHIB). Throughout June, SHIB's price plummeted 33%, which attracted widespread attention and discussion in the market. This article will analyze SHIB's performance in June in detail, compare historical data, and expectations for the upcoming July.

Over the past 30 days, SHIB's price has fluctuated wildly, from a high of $0.0000272 to a low of $0.0000165. As of the time of writing, SHIB's price is $0.00001735, up slightly by 1.29% in the past 24 hours. This small rebound has failed to reverse the decline throughout June.

Market analysts have compared this sharp drop with the performance of previous years, trying to find the pattern and reason. Historical data shows that SHIB has consistently performed poorly in June. At the end of June in 2021, 2022 and 2023, SHIB fell by 4.75%, 12% and 11.5% respectively. These data show that June is a challenging month for SHIB.

Despite the unsatisfactory performance in June, the market is looking forward to the upcoming July. Since its creation in August 2020, SHIB has experienced three Julys. In July 2021, SHIB experienced a sharp drop of 28.25%. In the three months before that, the price of SHIB rose by more than 400%, followed by necessary corrections. In July 2022 and 2023, SHIB performed relatively well, rising by 13.4% and 11.8% respectively.

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