Shiba Inu Sees Surge in New Holders Ahead of Bullish 'Uptober' Period
The Shiba Inu (SHIB) cryptocurrency has added 1,235 new holders on Ethereum in a single day, bringing its total holder count to nearly 1.7 million. This surge in new investors comes ahead of the historically bullish 'Uptober' period, which typically sees SHIB's price performance improve significantly.
October has been a profitable month for SHIB in previous years, with the asset seeing gains of 833% in 2021, 10% in 2022, and over 15% last year. If history repeats itself, SHIB's price could break through the $0.00001 confluent resistance during this period.
Despite the new holder count exceeding 8,935 in September, SHIB's price has been trading sideways, with a slight dip of 4% in the past 24 hours to trade at $0.00000569. The retail trading demand is still low, with SHIB's daily volume totaling $99,461,384, which is less than its peers with similar market caps.