- Shiba Inu faces potential volatility in December, historically experiencing double-digit percentage selloffs.
- Analysis by CryptoRank highlights December as the worst month for SHIB investors based on past trends.
- CryptoRank’s report warns of a possible drop below $0.0000065 if selling momentum intensifies.
Heading into the final month of 2023, the popular Shiba Inu-themed cryptocurrency SHIB faces another possible bout of extreme volatility if past trends around Christmas prove accurate again this year. Analysis by data firm CryptoRank reveals the token has seen double-digit percentage selloffs in December since its launch.
“Shiba Inu Token Eyes Another Treacherous December as Data Shows History of Year-End Crashes” reads the subtitle underneath graphs highlighting past December as the worst calendar months for SHIB investors.
CryptoRank’s report has put holders on alert; this could repeat, potentially bringing SHIB under $0.0000065 from its current price should selling momentum gather steam. However, December has been an anomaly compared to the more consistent weakness seen in November over the years.
Shiba Inu rallied nearly 4.5% this month
Surprisingly, after drops of 29.6% and 24.8% in the two prior November, SHIB rallied nearly 4.5% this past month. This break in the previous pattern has sparked a debate around solely extrapolating the future from such a small data set.
On one side, skeptics argue statistical significance cannot be gleaned from only three Decembers, especially given cryptocurrency’s inherent volatility. They contend that while history rhyming is possible, SHIB has already proven unpredictable this November.
As 2023 nears its end, SHIB investors are also keeping an eye on burn rate initiatives that reduce token supply. More than 100 million have been removed from circulation just this week. Though price often moves independently from these efforts, hopes remain that they boost value long-term.
