In October 2021, Shiba Inu showed remarkable performance, increasing 1,000% in just 30 days. During that time, SHIB achieved an all-time high of $0.00008616, providing investors with fantastic rewards.
After hitting its ATH, the dog-themed coin gained popularity and drew hundreds of new and inexperienced investors into its domain.
Will Shiba Inu, then, follow the story from October and cause investors’ portfolios to soar to unprecedented heights? We will discuss the potential high and low prices that SHIB might reach in October 2023 in this post.
SHIB October Surge: Will Shiba Inu Coin Emulate 2021’s Success?,SHIB October Surge: Will Shiba Inu Coin Emulate 2021’s Success?
Shiba Inu: Will the “Blessings” of October 2021 Recur?
The Shiba Inu has changed during the past two years. The token is deep in its macro-bearish phase right now. SHIB continued the meme money trend, capitalising on the excitement around Dogecoin. Back then, meme coins were quite popular, and investors experienced the traditional “fear of missing out” (FOMO) when they chose not to participate in them.
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As a result, FOMO was a major factor in the initial excitement around Dogecoin and Shiba Inu, but it has now subsided. Currently, there is less purchasing pressure on SHIB and DOGE. Their prices have been plummeting in hindsight.
A number of releases for Shiba Inu were made, including Shibarium, Welly’s Restaurant, John Richmond fashion, ShibaSwap, and ShibaEternity game. None of these changes enable SHIB to increase its pricing in a sustainable manner.
In summary, there is a remote possibility that SHIB’s price may increase in the future if none of these projects prove beneficial. The token is still firmly in bear zone and is now at the whim of the markets.
SHIB might not see another bull run like it did in October 2021 in 2023, even if the market now appears to be supportive of such a move.
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SHIB’s 24-hour day trade saw an almost 0.2% decrease to $0.00000720 at the time of publishing. In addition, SHIB has lost about 92% of its value since October 2021, when it peaked at $0.00008616.
SHIB October Surge: Will Shiba Inu Coin Emulate 2021’s Success?,SHIB October Surge: Will Shiba Inu Coin Emulate 2021’s Success?,SHIB October Surge: Will Shiba Inu Coin Emulate 2021’s Success?