October is turning out to be a volatile month for the cryptocurrency market. Amidst this, the second largest meme coin, Shiba Inu (SHIB), benefited from all the upticks. Over the last 24 hours, the asset surged by nearly 4%.
At press time, SHIB was trading at $0.00001879. This rise comes after a seven-day spike of over 10%. The meme coin seems to live up to the âUptoberâ hype and pocketing gains.
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SHIBâs Current Performance And Future Prospects
The meme coin is up 7.29% so far this month. This follows SHIBâs remarkable volatility at the beginning of the month, when it fell by about 9% in the first three days.
The networkâs attempts to implement Shib Doggy DAO and its foundation had a further effect on the assetâs price. This signifies a notable change from a centralized to a decentralized paradigm of ecosystem governance.
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Shiba Inuâs Price Prediction for 2025
According to data from Changelly, Shiba Inu will certainly perform better than it did this year. The asset will surge to a maximum price of $0.000059994. The lowest that the meme coin will trade at is around $0.0000489951. Meanwhile, the average trading price of the asset was set at $0.000049995.
Despite this ascent, SHIB will be trading much lower than its peak of $0.00008845. At its current price, Shiba Inu is 78% below the all-time high that it achieved about three years ago.
In addition, from a total of 30758 votes, 87% of SHIB enthusiasts were bullish about the meme coin witnessing a possible rise. Only 13% seemed to be unsure. Nevertheless, it looks like investors will have to wait for a while before witnessing a massive change in their portfolio.
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