Shiba Inu entered the country in October at a price range of $0.000011, 37% below the 2024 level. Shiv has been down more than 44% since the start of the year, making it one of the least performant cryptocurrencies on the market. What was once a central figure in the meme market is on the sidelines due to its poor performance.
Will the Shiva Dog be able to break the wounds in October and bring unexpected benefits to investors? Do you need to buy now and hold for a month to make a profit? In this article, we will highlight whether Shiv is rising south or heading south on the chart.
Will Shivain generate profits in October?
Shiba Inu is expected to be able to bring double-digit profits in October and will lead on-chain metrics and price forecasting company CINCODEX. According to the latest estimates, the company predicts that SHIB will reach a high of $0.00001378. This is an approximately 16% increase from the current price of 0.00001178.
So, if the forecast turns out to be accurate, a $1,000 investment could be $1,160. The recession has eroded investors’ trust, and this is the only ray of light for Nishidajima in October. If the downward trend was bad enough, the $4.1 million shiverium hack was worse.
The team has not yet recovered the stolen funds and operations of the Shaibarium Bridge remained suspended. If the stolen funds are not collected, things could go even further downhill, hindering Shiba Inu’s October outlook. Also, the number of SHIB holders has seen a short dip recently, but it has been able to recover.
Shiv’s hype and fame seem to be feeling sick lately, relying on market performance. A persona larger than the creatures that investors believed was the “next big thing” is no longer held. Getting an entry position for Shib brings unique challenges. Shiba Inu’s October surprise may bring some benefits, but older investors are still underwater.
