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Shiba Inu Price Decoded: Here's What SHIB Community Can Expect in September

Tue, 08/29/2023 - 15:15
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Gamza Khanzadaev
Shiba Inu (SHIB) price history hints at what to expect in September
Shiba Inu Price Decoded: Here's What SHIB Community Can Expect in September
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Shiba Inu's token, SHIB, appears to be heading for an unprecedented downturn as August draws to a close, marking the first instance of negative performance since its inception three years ago. The token's track record shows an impressive history, with August gains of 10.1% in 2021 and 3.36% in 2022. However, this year's August is poised to conclude with a disappointing 4.2% drop.

Shiba Inu: This Key Challenge Awaits SHIB as It Looks to Move

September emerges as a pivotal month for this popular cryptocurrency, as historical data unveils a mixed narrative. Over the years, the Shiba Inu token has experienced a roller coaster ride in September, with an average profitability of -0.89% since 2021. Notably, the past two years witnessed a 4.65% gain and a 6.43% loss, respectively, showcasing the volatile nature of SHIB's September trajectory.

SHIB's Monthly Returns by CryptoRank

Drawing parallels from the larger crypto market, Bitcoin and Ethereum present intriguing insights. BTC's average September returns since 2013 stand at -6%, while ETH, a more relevant comparison due to its altcoin status like SHIB, paints a grimmer picture with an average return of -14.1%.

SHIB to USD in August by CoinMarketCap

Analyzing SHIB's September potential in a different light, we turn to Dogecoin (DOGE), a historical sibling in the crypto world. DOGE's average September gain hovers around 14.5%, predominantly driven by standout years like 2014 and 2018. Nevertheless, a more reliable indicator, the median profitability of -4.07%, tempers expectations.

Shibarium Receives Major Boost as Shiba Inu (SHIB) Partner Launches Own Validator Node

As the SHIB community looks ahead to September, caution is advised. The crypto market thrives on surprising trends and unexpected turns, making resilience and adaptability paramount for investors.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.