Shiba Inu could see double-digit gains in April 2024, according to CryptoRank’s data. March 2024 was a memorable month for cryptocurrency investors, as they saw the prices of their favorite assets embark on incredible rallies. It’s interesting to note that Shiba Inu took part in the most recent rally earlier this month, as its price spiked to around $0.000045 on March 5. Shiba Inu has since dropped to $0.000030, but it is still up 115% since the beginning of this month.
Historical Performance of Shiba Inus Points to a 13.7% Gain for SHIB Next Month
As March draws to an end, investors in Shiba Inus are interested in learning what SHIB has in store for April. According to historical data from the well-known cryptocurrency analytics platform CryptoRank, investors in Shiba Inus may have mixed luck in April.
Shiba Inus, in instance, have an average return of 13.7%. SHIB median return, on the other hand, was fixed at -6.47%. The data was derived by CryptoRank through an analysis of Shiba Inu’s results in April of 2021, 2022, and 2023.
Notably, SHIB surged by an astounding 69.4% in April 2021, demonstrating Shiba Inu’s outstanding performance. In April 2022 and April 2023, however, Shiba Inu was unable to accomplish a comparable achievement as it fell by 22% and 6.41%, respectively.
It is crucial to remember that an asset’s past performance does not ensure that its price will move in the future. Furthermore, Shiba Inu has a limited sample size for this kind of investigation because it has only been around for a brief time.
Possible Elements That Might Affect the Price of SHIB
Events in the socioeconomic sphere and market volatility may also have a significant impact on Shiba Inu’s performance in April.
Investors in cryptocurrencies anticipate that April will be a bullish month overall for the market. This is due to the fact that the much awaited Bitcoin Halving event is scheduled for mid-to late-April. Whether the halving event has a beneficial effect on SHIB’s pricing in April is still to be seen.
Notice: Nothing in this content should be construed as financial advice; it is merely informative. The thoughts expressed in this article may be the author’s own and do not necessarily represent the viewpoints of vikunews.in. It is recommended that readers conduct extensive research before to making any investing decisions. vikunews.in disclaims any liability for any monetary losses.