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.
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.
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.
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.
Featured image from Dall.E, chart from TradingView.com
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