The clock is ticking for popular meme coin Shiba Inu (SHIB). After months of going nowhere, the token is now trading at about $0.00001220, stuck between the resistance at $0.00001375 and support near $0.00001178. That range does not look wide, but the next 30 days will decide whether SHIB escapes or gets crushed.
Shiba Inu’s price history by CryptoRank shows that October is not just another month for this coin. Back in 2021, it was October that made SHIB a global headline, sending it up by a whopping +833% in just a few weeks. One year on, and in the same month, holders suffered a -30% drop. Last October, things looked good, with an increase of 6%, but then we saw a big drop of 21% in December.
If you break it down, you can see the difference: the average October return is +213%, while the median is only +8%. Translation: the average is great, but most Octobers do not really deliver.
And the volatility is not just in October either. On average, March is up by +31%, but the median is down by -4.6%. May’s results show an average increase of 61%, but the median actually saw a drop of 3%. June is almost always bad, with an average of -14% and a median of -11.5%.
Shytoshi out, Shibarium hacked
SHIB’s price is all over the place; it is either going to be amazing or awful, with not much in between.
This year, the setup looks even more fragile. Shytoshi Kusama, the project’s symbolic leader, has disappeared from the spotlight. Shibarium, the layer-2 that everyone has been hyping, has been hit by a few exploits recently. There is less liquidity, less confidence and the market knows it.
If the Shiba Inu coin can push through $0.00001375, traders will be aiming for $0.00001500 as the next stop. If you do not hold $0.00001178, you will be back to $0.00001000. The next 30 days are going to be a real test for SHIB. They will show if it still has any energy, or if it is about to fade away, as its critics have been saying for ages.
Source: https://u.today/next-30-days-could-seal-shiba-inus-shib-fate-after-shibarium-exploit
