$SHIB Price Prediction: Can Shiba Inu Reach $0.00000650 in October?
Shiba Inu's recent rally shows no signs of slowing down. The cryptocurrency is currently trading at $0.00000589, up 1.73% in a single day. To keep this momentum going, analysts believe it needs to hold above the crucial level of $0.00000565.
This support zone, formed by the intersection of the 20-day and 200-day EMAs, is seen as a key area to watch for $SHIB price action in October. If it can successfully clear this hurdle, analysts predict that it could reach as high as $0.00000650 within the month.
Historically speaking, Shiba Inu has performed well in October, with a median gain of 6.04% over the past five years. However, it's worth noting that the September gain of 13.5% is significantly higher than the historical average, and may be unsustainable in the long term.
LuckSide Crypto, a prominent analyst in the space, has flagged a bullish signal for Shiba Inu, citing both the monthly RSI sitting on its signal line and the altcoin total market cap's MACD flipping bullish. However, he also notes that this is not a guarantee of future price action.