Shiba Inu (SHIB) price is currently struggling to maintain a positive outlook, but history shows that the token has a good chance of finishing February strong.
Shiba Inu trades for $0.00000907, down 1.87% in the last 24 hours. The market capitalization of the coin has collapsed with a margin equal to $5,344,838,331 while the trading volume sees a jump of 22% to $86,319,274.
Over the past week and past month, Shiba Inu declines have resulted in declines of 0.65% and 13.13%, respectively. Despite this negative outlook for January, market data suggests a better February.
Shiba Inu in February: historical trends
Data from Cryptorank shows that it could be better days for Shiba Inu in February, as the month has not seen any negative growth since its inception.
The digital currency made its appearance in the second half of 2020, during which, after a few months, it consolidated with visible price growth.
In February 2021, Cryptorank data pegged SHIB’s growth at 20.3%, and in February 2022 the token closed the month with 1.59% growth.
This price outlook presents February in line with the month of October which has never seen any negative results since the start of Shiba Inu.
With an average growth rate of 10.9% for February, expectations remain that the Shiba Inu could possibly reverse the current 17% price decline next month.
SHIB catalysts to keep an eye on
While the likelihood exists that history will technically repeat itself, it is highly uncertain that this will be the case for Shiba Inu at this time. This requires extreme caution and deeper insight into the catalysts that could help trigger a positive outlook.
The community expects an increase in token burns, strengthened by Shibarium. This metric will complement the broader market sentiment, as indicated by the presence of spot Bitcoin Exchange Traded Fund products (ETFs).
Overall, Shiba Inu is proud to be part of the vibrant community. Although his volatility may vary greatly, he could end positively for the token in the next month.
