Shiba Inu (SHIB) Price May Soar in July If This Prediction Comes True
One of the most well-known meme cryptocurrencies, Shiba Inu (SHIB), has experienced its worst performance since May 2022 at the end of the first month of summer. The price of SHIB fell by over 33% in June, reaching a value of $0.000017.
However, as we approach the end of this month, it is crucial to look at the price history to gain insights into what July might have in store for Shiba Inu. The SHIB community can take heart in the fact that July has historically been a promising month, with the median profitability of the Shiba Inu token standing at 11.8%, based on CryptoRank data.
Interestingly, the past few Julys have turned out to be favorable for SHIB, with the price increasing by 11.8% in 2023 and 13.4% in 2022. Although 2021 witnessed a substantial drop of nearly 30%, it followed a remarkable surge of almost five times in the preceding three months, making the correction relatively tame.
On the other hand, June has consistently delivered negative results for Shiba Inu, with 2024 following the same pattern.
Does this imply that SHIB is destined to rise in the next month? Not necessarily. However, historical price trends can provide a valuable perspective on what to expect, making them difficult to disregard.
It is essential to remember that certainty is scarce in the cryptocurrency market. Nevertheless, by considering the historical trends of the SHIB price, we can obtain some insights that should not be overlooked.