thecryptobasic.com
Analysts see Shiba Inu (SHIB) rising in October, as bullish sentiments surrounding the month trigger “Uptober” chants among market participants.
As October, often referred to as “Uptober” by crypto enthusiasts, nears, Shiba Inu is expected to experience a notable price movement. The month has historically seen positive shifts in various cryptocurrencies, and market experts are now pointing to Shiba Inu as a potential benefactor of this trend.
Past performance, combined with current market analysis, has fueled anticipation that SHIB may see a significant rise in the coming weeks.
Market Analyst Predictions
One of the most recent forecasts for Shiba Inu comes from an experienced market analyst known as SHIB KNIGHT. The expert, a crypto investor since 2017, has identified several key price targets for the meme coin.
$SHIB 3H Chart
Targets: 2148, 2254, 2421
Supports: 1980, 1926, 1873Buy zone for the whales is 1873 pic.twitter.com/gmRui7QDzX
— $SHIB KNIGHT (@army_shiba) September 29, 2024
According to recent data shared on X, the analyst has pinpointed potential price targets of $0.00002148, $0.00002254, and $0.00002421, with support levels sitting at $0.00001980, $0.00001926, and $0.00001873. The buy zone for larger investors, often referred to as “whales,” has also been highlighted at $0.00001873.
This analysis aligns with the broader trends expected in October, reinforcing the belief that SHIB may experience upward movement. Historically, this period has often seen spikes in the value of Shiba Inu, and market participants anticipate a similar trend as October draws closer.
Historical Patterns Boost Sentiment
Investors looking at SHIB’s historical price performance during the month of October find cause for optimism. In 2021, Shiba Inu recorded an impressive surge of 833%, despite being a relatively young token. The following year, while less dramatic, still showed a 6% rise during October, rebounding from a more volatile September.
Similarly, in 2023, the token experienced an 8% drop in September but recovered with a 6% gain in October. These historical patterns of SHIB’s price behavior in the fall have led to renewed expectations of another potential price spike this year, particularly in October.
Updated Projections for SHIB by 2030
Looking ahead, Finder, a prominent research platform, has provided updated price forecasts for Shiba Inu. Initially, the group predicted that SHIB could reach $0.0000493 by 2025. However, their latest analysis has adjusted this projection, now suggesting that SHIB may hit $0.000045 by the year 2030.
Despite adjustments to the timeline, Finder experts still project steady growth for SHIB, with the price expected to reach $0.00001 this year and $0.000025 by 2025. By the end of the decade, they anticipate SHIB will climb to $0.000045.