$SHIB The second-largest meme coin, SHIB has historically seen periods of massive price increases, rising by triple-digit percentages in a 30-day period. According to CryptoRank data, these impressive increases highlight the strength of the average rate, with SHIB seeing an 833.6% increase in October three years ago, despite being more than six months old at the time.
Thus, as data from CryptoRank shows, the price of the Shiba Inu token, or $SHIB , is set to nearly triple in October. This is due to the fact that the average return for the month is 283.4%, while the average is 10.4%.
Yes, the latter is a more modified indicator, but the second-largest cryptocurrency has seen periods in its price history when it has risen by triple digits in a 30-day period. SHIB Price History by CryptoRank
So, you can't completely deny the power of the average.
Will history repeat itself next October?
Much of this surge is due to the fact that three years ago, when the Shiba Inu (SHIB) token first appeared on the cryptocurrency market radar, its price surged a massive 833.6% in October, despite being more than six months old.
The next ten months were not as fruitful, but they ended on a positive note. In 2022, the price of $SHIB rose by 10.4%, and in the following year by 6.04%. It was truly a âprofitable Octoberâ.
What will happen this year globally is still a mystery, as predicting anything in the cryptocurrency market is rarely a good idea. But October has been positive for SHIB for the last three times, so this year may not be an exception.
