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As it became known, thanks to data from CryptoRank, the popular meme cryptocurrency Shiba Inu (SHIB) may see a bullish rally in the coming month of August.
Thus, a look at historical trends reveals a positive statistic regarding SHIB and the last month of summer. The average profitability of the Shiba Inu token in August is 2.67% and the median is 3.36%.
Tomiwabold OlajideThe fact that the median and average are both positive is a rare occurrence. Whenever they coincide, it always proves expectations. So the odds of Shiba Inu ending August in the black increase even more with this rare occurrence.
Digging deeper, it can be said that in 2021, the Shiba Inu token closed August with a profit of 10.1%, in 2022 it was 3.36%. However, in 2023, SHIB closed this month with a 5.44% decrease.
Godfrey BenjaminThe stick to wheel may be the fact that SHIB is a comparatively young asset and its history of price observations in August consists of only three such months. In such a chaotic and unpredictable market as crypto, this may not be enough to make a fully reliable prediction. On the other hand, such a benchmark is better than no benchmark at all.
Whether SHIB will indeed end August with a spike is an open question. But at least the price history is on the bullish side. Let's wait and see if it is right or not.
Arman Shirinyan
Godfrey Benjamin
Vladislav Sopov
Dan Burgin