🔥Heavy news, revealing the trend of Shiba Inu coin in May🔥

Here’s where Shiba Inu price is headed in May, according to historical data

Shiba Inu price, along with the rest of the cryptocurrency market, has suffered from uncertain resistance as a massive sell-off has suppressed prices. However, as April draws to a close, crypto investors are looking forward to where prices are headed. One way to understand where prices are headed next is to use historical data, so historically, here’s how Shiba Inu has performed in May.

🔺 How Shiba Inu has performed in May

Historical data shows that May has not been particularly bullish for Shiba Inu price. According to the data, there have been more down months than up months in May, suggesting that this trend could continue.

The last time Shiba Inu price closed higher in May was in 2021, at the peak of the bull run. In May 2021, prices rose a total of 355%. However, the asset has been in the red since then in May.

In May 2022, SHIB price plunged 42.1%, continuing the bearish trend of 22% in April. The meme coin followed the same trend in May 2023, falling another 15.4% after closing April 2023 with a 6.41% drop.

Shiba Inu appears to be following the same trend as April 2024 is about to close with a drop of about 24%. If history repeats itself, then investors may see an average price drop of 20% over the next month.

🔺 SHIB Bear Market Dominates Price

Throughout April, bears have been in control of Shiba Inu price as the Bitcoin halving did not have the expected bullish effect. This continued until the end of the month, and as mentioned above, it looks like it will continue into the new month.

However, it is worth noting that the past two years when SHIB price fell in May were in a bear market, so a drop was expected.

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