The cryptocurrency market appears to be undergoing a slight recovery after a recent plunge. Bitcoin (BTC) has revived a price level of $111,000, with global crypto market capitalization rising 2.3% to $3.95 trillion over the past 24 hours. Shiba Inu (Shib) has recovered slightly by 1.7% in the last 24 hours, but can glow red in other time frames. According to data from Coingecko, Shiba Inu has faced a price decline of 4.3% on the weekly chart, 13.3% on the 14-day chart, 3.7% on the monthly chart, and 40.7% since September 2024.
Will Shivain recover from the price drop in October?
The cryptocurrency market faced a major revision earlier this month. Dip was most likely due to the fresh volatility that stems from uncertainty in US monetary policy. As a result, Shiba Inu (Shib) and Crypto Market have registered a large-scale liquidation.
Shiba Inu (Shib) is likely to recover from that predicament next month. October has historically been a very bullish month for the crypto market. Additionally, it is likely that the Federal Reserve will announce an additional 25 basis points of interest rate cuts next month. According to CME FedWatch, there is an 89.3% chance that interest rates will drop even further. Another interest rate cut could result in a major influx into the crypto market. Shiba Inu (Shib) and other dangerous assets can see a large price rallies under such circumstances.
Shiba Inu (Shib) is struggling to gain momentum this year. The popular coin violated its price level twice in 2024 at $0.00003. However, they were unable to carry out the same feat in 2025. Things could change over the next few months.
