Shiba Inu (SHIB) on Brink of 85%🚀 Pump If Historical Data Holds True
$SHIB $BTC $ETH
Google News
Shiba Inu (SHIB), often dubbed the "Dogecoin Killer," might be on the cusp of an incredible 85% rally in January, according to historical data from CryptoStats. Over the past six years, SHIB has averaged an 85.2% return in January, sparking excitement among traders and investors.
Interestingly, while SHIB emerged in 2020, its most profitable January was in 2021, with a jaw-dropping 458% surge in just a month. However, SHIB's January performance has since fluctuated, including a decline in 2022 and a modest 29% gain in 2023.
Mixed Signals in SHIB's Price History
CryptoStats' data reveals that only three out of SHIB's six Januaries have ended in positive territory, signaling a 50-50 chance for gains. The median return for January is 3.6%, underscoring the unpredictable nature of SHIB's January performance.
Bitcoin and Ethereum's Role
Support for SHIB's potential rally might come from broader market trends. Bitcoin (BTC) and Ethereum (ETH) have historically driven altcoin seasons, and their price performance in early 2024 could be pivotal. Notably, ETH has recorded five consecutive months of average positive returns from January to May, with a minimum median return of 14%.
Should Ethereum lead another altcoin rally, Shiba Inu could ride the wave, extending its growth beyond January. The first quarter of 2024 might be a game-changer for SHIB if market momentum aligns with historical patterns.
#AltcoinBreakout #CryptoJanuary #AltSeaason #BtcNewHolder