Shiba Inu Shines in August but Faces Grim September Outlook

Shiba Inu (SHIB) has ended August with an all-time record return, breaking an 11-month bearish trend and posting its best performance in history. The token's price reached $0.00000535 as of Thursday, retaining a 14.8% gain for the month.

The significant breakthrough in Japan, where the Financial Services Agency approved SHIB for listing on the licensed Laser Digital Japan platform, was the main driver behind this big win. This inclusion brought in regulated capital and lifted its market capitalization to $3.2 billion.

However, September poses a traditional threat to SHIB's momentum. According to CryptoRank statistics, the asset has never closed September with a convincing gain, while the median return for the month stands at -2.99%. The technical picture on TradingView's weekly time frame also confirms the gradual exhaustion of buying strength.

The current candle is down 3.41% for the week and is forming a long upper wick, signaling that major players have begun taking profits. Meanwhile, the RSI (47.62) has started turning downward, confirming a lack of bullish momentum.