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One of the most popular meme cryptocurrencies, Shiba Inu (SHIB), has come to the end of the first month of summer with its worst result since May 2022. At the end of June, the price of SHIB fell by more than 33%, reaching a value of $0.000017.
However, this month is coming to an end and we need to move forward, so it is time to look at the price history to see what July might have in store for Shiba Inu.
Godfrey BenjaminThere is indeed reason for optimism in the SHIB community in July, as the median profitability of the Shiba Inu token in the second month of summer is 11.8%, according to data from CryptoRank.
In fact, the last few Julys were green for SHIB, as the price added just 11.8% in 2023 and 13.4% in 2022. Yes, 2021 - the year the meme cryptocurrency emerged - was pretty painful, with the price falling nearly 30%, but that came after nearly five times the growth in the previous three months, so the correction was not the worst.
By comparison, June has never been positive for Shiba Inu and, as you can see, history has repeated itself in 2024.
Arman ShirinyanDoes this mean that SHIB is guaranteed to rise next month? No. Is price history a good benchmark? Yes.
Of course, the only thing that is certain on the cryptocurrency market is that nothing is certain. However, as you can see, historical trends for the SHIB price can still offer a certain angle on what to expect, and one should not ignore them.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team