Due to a recurrent pattern of price declines around December, investors in the Shiba Inu cryptocurrency, SHIB, are in for a wild ride this year.
Based on CryptoRank’s data, since its launch three years ago, SHIB has seen a double-digit percentage decline every December.
SHIB saw a notable decline of 29.5% in 2021 and a further 13.5% decline in 2022. During these months, SHIB has an average and median value of – 21.5%. Should past events repeat itself, the price of a Shiba Inu token at the end of the year may be as low as $0.00000653.
But there is some good news for SHIB investors. In contrast to the December pattern, historical data shows that, with reductions of 29.6% and 24.8% over the previous two years, November has also been a difficult month for SHIB.
Remarkably, the token has reversed this downward trend in 2023, ending the eleventh month with a 6.83% gain.
What conclusions can be drawn?
On the one hand, detractors would counter that price history alone is not a perfect indicator of future patterns, particularly when considering a statistical sample consisting of just three occurrences.
However, proponents of optimism may point out that in its brief history, the Shiba Inu token has shown resilient, demonstrating the capacity to buck historical patterns.
The question of whether the token will again follow the historical trend or if it will surprise the market with an unexpected twist lingers as SHIB investors prepare for the drama that will unfold in December.
