The cryptocurrency market seems to be making a slight recovery after its recent plummet. Bitcoin (BTC) has reclaimed the $111,000 price level, and the global crypto market cap has risen 2.3% in the last 24 hours to $3.95 trillion. Shiba Inu (SHIB) has made a slight recovery of 1.7% in the last 24 hours, but continues to glow red in the other time frames. According to CoinGecko data, Shiba Inu has faced a price dip of 4.3% in the weekly charts, 13.3% in the 14-day charts, 3.7% in the monthly charts, and 40.7% since September 2024. Let’s discuss if SHIB can make a comeback in October.
Will Shiba Inu Recover From Its Price Dip in October?
The cryptocurrency market faced a substantial correction earlier this month. The dip was most likely due to fresh volatility arising from uncertainties in US monetary policy. Shiba Inu (SHIB) and the larger crypto market registered massive liquidations as a result.
There is a high chance that Shiba Inu (SHIB) will recover from its predicament in the next month. October has historically been quite a bullish month for the crypto market. Moreover, there is a high probability that the Federal Reserve will announce another 25 basis point interest rate cut next month. According to CME FedWatch, there is an 89.3% chance that we will see interest rates go down further. Another interest rate cut could lead to big inflows coming into the crypto market. Shiba Inu (SHIB) and other risky assets could see big price rallies under such circumstances.
Also Read: Shiba Inu (SHIB) Shocker: Vitalik Buterin Dumps 2 Meme Coins Again
Shiba Inu (SHIB) has struggled to gain momentum over this year. The popular coin breached the $0.00003 price level on two occasions in 2024. However, it has failed to do the same feat in 2025. The lackluster performance could be due to falling confidence and the lack of development and adoption. Things could change for the better over the coming months.
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