Shiba Inu's October Rally: A Historical Trend
Shiba Inu (SHIB) is gearing up for a potential parabolic surge this October, mirroring its past performance. Historical data reveals that SHIB has consistently posted positive monthly returns during October:
- 2021: +833% (bull run peak)
- 2022: +10%
- 2023: +6%
👉 Explore SHIB’s price correlation with Bitcoin
Investor Accumulation Signals Confidence
Recent on-chain data highlights aggressive accumulation by SHIB investors:
- 770 billion SHIB moved off exchanges between September 23–24 (CryptoQuant data).
- Exchange outflows suggest long-term holding strategies, reducing sell pressure and supporting price upside.
Bitcoin’s Influence on SHIB’s Rally
SHIB’s price correlation with Bitcoin (BTC) currently stands at 0.89, indicating:
- Strong positive linkage to BTC’s movements.
- Potential spillover gains if Bitcoin rallies in Q4 (historically its strongest quarter).
Key Concerns: SHIB’s Bearish Fundamentals
Despite bullish signals, SHIB faces challenges:
Declining Burn Rate:
- 24-hour drop: Over 90% (Shibburn data).
- 7-day reduction: 61% fewer tokens burned.
Low Shibarium Activity:
- Daily transactions stagnant below 10,000.
- Impacts SHIB burns (base fees converted to burnt tokens).
Current SHIB Price Snapshot
- Price: $0.000014 (+3% in 24h).
- Market Sentiment: Cautiously optimistic amid accumulation trends.
👉 Track SHIB’s live price action
FAQ: Shiba Inu’s October Rally
Q1: Why is October significant for SHIB?
A1: Historical data shows SHIB consistently rallies in October, with 2021 delivering an 833% surge.
Q2: How does Bitcoin affect SHIB’s price?
A2: SHIB and BTC share a 0.89 price correlation—BTC’s gains often lift SHIB.
Q3: What does the 770 billion SHIB accumulation mean?
A3: Large off-exchange movements signal investor confidence and reduced sell pressure.
Q4: Are SHIB’s fundamentals improving?
A4: No—burn rates and Shibarium activity remain low, posing risks.
Final Thoughts
While SHIB’s technical setup and investor behavior hint at a historic October run, its weak fundamentals warrant caution. Monitor Bitcoin’s trajectory and SHIB’s on-chain metrics for confirmation.
Note: This content is for informational purposes only and not investment advice.
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