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As September begins on a bearish note for digital assets, including Shiba Inu (SHIB), the crypto community is abuzz with speculation.
At the time of writing, Shiba Inu was down 2.26% in the last 24 hours to $0.00001359, mirroring the broader declines in the crypto market, which has seen crypto assets such as Solana, Aptos, ImmutableX, Gala post losses between 4% and 10%.
Bitcoin was down 1.80% in the last 24 hours to $58,033, and crypto market liquidations have reached $55.59 million within this time frame, according to CoinGlass data.
In a lighthearted tweet, an X user named Naiive caught the present mood in the crypto market.
The tweet read, "God please give me a sign," and was accompanied by an image of a lightning strike that resembled a price chart showing a dip followed by a sharp rebound.
This humorous take on the market resonated with many in the crypto community, including Shiba Inu’s lead, Shytoshi Kusama, who responded with a simple "LOL," which stands for "laugh out loud." This light-hearted reaction from one of the crypto industry's key figures represents a brief moment of humor amid the current market volatility.
Shiba Inu price outlook in September
Shiba Inu, like much of the crypto market, finished August in the red, ending the month with a loss of 13%.
Expectations are much in place for September, a month that has historically been challenging for cryptocurrencies. Shiba Inu's track record in September is less than stellar, having only experienced one positive September out of the three since 2021.
Tomiwabold OlajideThe negative trend presented by historical data is triggering anticipation in the broader crypto community. The humor in Naiive’s tweet might reflect a shared uneasiness about the market’s short-term price action.
However, it should be borne in mind in mind that past trends do not guarantee present outcomes. Expectations are in line for a Fed rate cut in September, which might boost the markets, upturning the negative outlook in September.
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov