Shiba Inu （SHIB） is set for a positive month, aiming to break its historical downtrend and achieve new growth milestones.
Points
- SHIB shows signs of recovery with 2.51% growth.
- Historical downtrend in June being reversed in July.
- Key catalysts and community support driving SHIB’s recovery.
Shiba Inu （SHIB） is on the verge of setting a new record this month, moving away from its historically bearish performance in June. SHIB is currently in recovery mode, with data from CoinMarketCap pegging its growth rate at 2.51%, bringing the price to $0.00001727.
History to watch
Shiba Inu entered this month with optimism after a 32.3% slump in June. The altcoin’s performance in July has been more positive, with SHIB recording a 2% surge thus far, according to Cryptorank data. If this growth continues, SHIB may end the month with gains similar to those seen in July 2022 and 2023, where it ended at 13.4% and 11.8%, respectively.
Shiba Inu catalysts to watch
The meme coin’s recovery is bolstered by public appearances from Shytoshi Kusama and other key figures, strengthening community support. Upcoming developments, such as the Shiba Eternity game, are also expected to drive further interest and adoption of the Shiba Inu ecosystem.
As SHIB aims to reverse its historical downtrend, continued community engagement and successful project launches will be crucial in sustaining its positive momentum.