Shiba Inu Price Bounces Back Amid Mixed September Outlook

The Shiba Inu (SHIB) price is currently trading at $0.00000518, up 2.17% after bouncing from its 0.382 Fibonacci retracement level of $0.00000505 on August 31.

This support area is also reinforced by the 20-day EMA, which sits almost exactly alongside it at $0.00000506.

SHIB's current trading range is between $0.00000514 and $0.00000527, with its next resistance level near $0.00000568, where the 0.618 Fibonacci retracement and 200-day EMA converge.

Historically, SHIB has had a mixed performance in September, with three positive and three negative Septembers since 2021.

The average return for SHIB in September is +2.63%, but excluding the outlier of September 2024's 26.6% gain, the median return is slightly negative at -0.41%.