Shiba Inu (SHIB) traded subdued on Thursday amid a quiet broader crypto market. However, despite a notable decline from its March peak of around $0.000045, SHIB has demonstrated resilience.
Currently priced at $0.00001951 after a massive 33.19% surge over the past 7 days, the second largest meme token is positioned at a crucial support level, an area that sparked the February-March mini-bull run this year.
That said, amid SHIB’s current price stagnation, “LUCIE,” the lead marketing strategist for the Shiba Inu ecosystem, has ignited curiosity within the SHIB community with a cryptic but optimistic forecast.
In a tweet on Sep. 11, LUCIE expressed hope for a significant surge in SHIB’s price this October, drawing from historical trends. Notably, the tweet playfully referenced common terms used by the crypto community to describe the general “crypto mood” for different months.
“Some people don’t know this based on past experiences of certain traders… ‘Uptober – When October brings the long-awaited pump.” The pundit wrote.
LUCIE also provided a broader perspective on market cycles, suggesting that while September, referred to as “Rektember,” often brings challenges and portfolio setbacks, October might offer a significant rebound. The strategist further speculated that December, dubbed “Pumpcember,” could bring an end-of-year rally, adding a festive boost to prices.
Notably, “Uptober” is a crypto colloquialism suggesting that October could bring a notable price increase, a notion supported by past performance patterns. Examining SHIB’s performance in recent years, the fourth quarters of 2021, 2022, and 2023 have shown varied outcomes.
In Q4 2021, SHIB saw a dramatic surge of about 1,200% to an all-time high of $0.000088 in November before correcting to around $0.000035 by December. In contrast, Q4 2022 and 2023 saw a less volatile trend, with minor decreases and slight increases, respectively, indicating a more stable but less explosive pattern than the previous year.
Looking ahead, analysts are optimistic about SHIB’s potential. According to a recent analysis from analyst “Investing Haven,” the token’s chart suggests a significant move from October until mid-2025.
“Is SHIB Forming a Bottom? Despite a 50% drop, SHIB is stabilizing near $0.0000111 support. If these levels hold, October could bring a bullish reversal.” The analyst noted. “SHIB Critical October Triangle Setup The triangle formation in Shiba Inu chart will likely resolve in October… The chart is telling the real story—keep an eye on it.”
Elsewhere, analyst “Charting Guy” compared SHIB’s chart to that of DOGE, noting similarities that suggest a potential the explosive wave 3 after finding finding support at the 0.236 Fibonacci level which coincides with the $0.0000111 support.
[SHIB has been rejected] off golden pocket, and now finding support on 0.236 CLASSIC wave 1 & 2. Now, we are loading up for the explosive wave 3 that should take out All-time Highs (ATHs) on both of these coins,” the pundit wrote.
