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Investors in the Shiba Inu token, SHIB, are facing a roller-coaster ride this December as historical data indicates a recurring trend of price drops during this month.
According to CryptoRank's analysis, SHIB has witnessed a double-digit percentage collapse in each December since its inception three years ago.
Yuri MolchanIn 2021, SHIB experienced a significant dip of 29.5%, followed by a 13.5% drop in 2022. The average and median value for SHIB across these months stands at minus 21.5%. If history repeats itself, the Shiba Inu token could potentially conclude the year at a price as low as $0.00000653 per token.
However, it's not all doom and gloom for SHIB investors. Contrary to the December trend, historical data reveals that November has also been a challenging month for SHIB in the past two years, with declines of 29.6% and 24.8%.
Surprisingly, in 2023, the token has managed to break this negative trend by concluding the 11th month with a gain of 6.83%.
What conclusions can be drawn?
On the one hand, skeptics may argue that relying solely on price history, especially with a statistical sample of only three instances, is not an infallible predictor of future trends.
On the other hand, optimists might point out that the Shiba Inu token has displayed resilience, showcasing the ability to defy historical trends in its relatively short existence.
Tomiwabold OlajideAs SHIB investors brace themselves for the December drama, the question remains whether the token will once again follow the historical pattern or if it will surprise the market with an unexpected twist.
Godfrey Benjamin
Dan Burgin
U.Today Editorial Team
Vladislav Sopov