[If SHIB price history proves itself, Shiba Inu will have a birthday party]
As Shiba Inu Coin (SHIB) celebrates its fourth anniversary, cryptocurrency market participants and community enthusiasts are keeping a close eye on the meme cryptocurrency in anticipation of possible gains. Historically, August has been favorable for SHIB, with an average return rate of 2.7% and a median return rate of 3.4%. This rare occurrence increases the odds that SHIB will end the month higher in August, boosting optimism in the market.
Shiba Inu Coin was created in 2020 by the anonymous Ryoshi and was inspired by Dogecoin (DOGE). Currently, it is the 13th largest crypto asset with a market capitalization of $9.37 billion and daily trading volume of $220 million. From an initial price of $0.000000000056, it reached an all-time high of $0.00008616 in October 2021, a 150,000,000% increase.
The popular meme coin has attracted approximately 3.8 million community members, known as the SHIB Army. The decentralized, community-driven ethos has fueled the development of an extensive ecosystem, including ShibaSwap, Shibarium, various NFTs, Metaverse projects, and the Shiba Eternity game.
As SHIB heads into August, the question remains: Will its price history prove itself again? Past performance and positive historical averages provide a glimmer of hope for those expecting SHIB to rise.
