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The cryptocurrency market is currently stable, with Bitcoin sitting at $63K at press time. With BTC claiming its $60K mark, the altcoin market has also responded well to the change. Leading meme coins Shiba Inu and Dogecoin have also noted modest spikes in their price, but a bullish transformative price movement is yet to be documented. As October nears, investors’ hopes are high, considering the month’s “Pumptober” effect. Will Doge and Shib be able to claim a new ATH this month? Let’s find out.
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Shiba Inu Price Prediction
Shiba Inu is one of the most popular crypto tokens in the current crypto scenario. SHIB is currently trading at $0.00001552, up 4% in the last 24 hours. Throughout the month of September, the token had shown modest price performance with minimal price spikes and surges. However, as October approaches, the Pumptober effect may help SHIB claim new price highs next month.
According to CoinCodex, Shiba Inu may have a hard time acing next month, as it may tank 11% to trade at a new low of $0.00001541. The technical platform shows SHIB peaking to $0.0002397 by October 3, before falling flat to $0.00001541 by October 26.
“According to our current Shiba Inu price prediction, the price of Shiba Inu is predicted to drop by -0.11% and reach $0.00001541 by October 26, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 50 (Neutral). Shiba Inu recorded 17/30 (57%) green days with 4.06% price volatility over the last 30 days. Based on the Shiba Inu forecast, it’s now a good time to buy Shiba Inu.”
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Dogecoin Price Forecast For October
Dogecoin has also had a rough 2024, with minimal opportunities to explore the bullish phase of the market. Doge noted a few price spikes after the token was mentioned by Musk a few times on X. However, those price surges were temporarily compelling the token to return to its modest price level of $0.10-$0.108. At press time, the token is sitting at $0.1088, down 1% in the last 24 hours.
According to CoinCodex, the Pumptober effect may not work well on Doge, as the platform predicts the token to plummet by 13% next month.
“According to our current Dogecoin price prediction, the price of Dogecoin is predicted to drop by -13.57% and reach $0.094946 by October 25, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 59 (greed). Dogecoin recorded 17/30 (57%) green days with 3.92% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a good time to buy Dogecoin.”
Such analysis is always subjected to market change since the cryptocurrency domain is highly volatile and sensitive to sudden changes. Hence, user discretion is necessary before making any significant investment-centric decisions.
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