Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

As it became known, thanks to data from CryptoRank, the popular meme cryptocurrency Shiba Inu (SHIB) may see a bullish rally in the coming month of August.

Thus, a look at historical trends reveals a positive statistic regarding SHIB and the last month of summer. The average profitability of the Shiba Inu token in August is 2.67% and the median is 3.36%.

The fact that the median and average are both positive is a rare occurrence. Whenever they coincide, it always proves expectations. So the odds of Shiba Inu ending August in the black increase even more with this rare occurrence.

Digging deeper, it can be said that in 2021, the Shiba Inu token closed August with a profit of 10.1%, in 2022 it was 3.36%. However, in 2023, SHIB closed this month with a 5.44% decrease.

The stick to wheel may be the fact that SHIB is a comparatively young asset and its history of price observations in August consists of only three such months. In such a chaotic and unpredictable market as crypto, this may not be enough to make a fully reliable prediction. On the other hand, such a benchmark is better than no benchmark at all.

Whether SHIB will indeed end August with a spike is an open question. But at least the price history is on the bullish side. Let's wait and see if it is right or not.