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Shiba Inu Dogecoin

Can Dogecoin And Shiba Inu Prices Recover? What To Expect In September

Scott Matherson
by Scott Matherson
52 minutes ago
·
Posted in Dogecoin, Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

As the crypto market ushers in a new month, Dogecoin and Shiba Inu holders are faced with fresh hopes and fears, especially as the market remains uncertain and prices continue to fluctuate. In the current state, there is still some time until a particular direction is decided for the meme coins. However, taking a look at historical data and how both Dogecoin and Shiba Inu prices have previously performed in the month of September can often help with an idea of what to expect in the new month.

How Dogecoin And Shiba Inu Prices Have Performed In September

Shiba Inu has been in existence for a considerably lesser time than Dogecoin, with DOGE’s 12 years compared to SHIB’s five years. However, both meme coins seem to go hand in hand as the largest meme coins in the market. Hence, the performance of Dogecoin and Shiba Inu prices tends to go together as both are the market leaders in their niches.

Related Reading: Japanese Gaming Giant Plans $17 Million XRP Buy, Here’s Why

As a result, this report will look at the performances of Dogecoin and Shiba Inu prices over the last five years, maintaining a balance between the two meme coins. For both digital assets, though, there have been varying performances, suggesting a deviation in the month of September, according to data from CryptoRank.

For example, back in September 2021, when the coin was first launched, the Shiba Inu saw a small 4.65% price increase. On the flip side, the Dogecoin price was actually beginning to crash at this point, recording a 26.7% decline by the time the month of September was over.

Dogecoin price
Source: CryptoRank
Shiba Inu Price
Source: CryptoRank

The next two years, though, saw poor performance from both Dogecoin and Shiba Inu, with Shiba Inu suffering losses. Then, in September 2024, there was a drastic change as both meme coins actually saw double-digit gains by the end of the month.

What this suggests is that the month of September is a mixed bag for both Dogecoin and Shiba Inu prices. Mostly, the performance for September depends on the Bitcoin price and how the crypto market moves in general in the new month.

October Is The Real Deal

For Dogecoin and Shiba Inu investors looking for real gains, the time to look forward to would be the month of October. Since its launch in 2021, the Shiba Inu price has never had a red close in October, and it is the only month where the meme coin has consistently achieved gains.

Related Reading: Fundstrat’s Tom Lee Reveals Why Investors Left Ethereum For Solana – Details

Dogecoin’s performance for the month of October is similar, with the last six years ending in consistent green closes for the meme coin. Simply put, the month of October is the most bullish month for Dogecoin and Shiba Inu, often leading into November before the rally subsides.

Dogecoin price chart from TradingView.com
DOGE makes new local lows with weekend crash | Source: DOGEUSDT on TradingView.com
Featured image from Dall.E, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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