Shiba Inu Update October 2023

Shiba Inu Update:

  • SHIB participates in the broader market surge. With a 1.8% increase in the period of 5th - 6th October, Shiba Inu mirrors the overall crypto market’s slight recovery. Yet, SHIB remains 10% lower than last month and has plummeted 70% from its peak.

  • SHIB’s October forecast remains uncertain. Experts are divided on Shiba Inu’s immediate future. Some anticipate a sustained rally, potentially setting new records, while others warn of an overvaluation and potential downturn.

  • Concerns arise after a massive SHIB offload. A significant sale of 800 billion SHIB tokens from a large holder in September caused a price dip. This move has left short traders apprehensive about further declines.