Shiba Inu Marketer Recalls SHIB’s Turning Point in August 2021: Is a Repeat Imminent?

Lucie, a Shiba Inu marketing specialist, reminds the community of the meme coin’s turning point in August 2021, triggering speculation of an imminent repetition.

Lucie’s disclosure came at a time of market uncertainty surrounding Shiba Inu. However, SHIB’s woes are not unique, as the broader crypto market has continued to face similar consolidation. For instance, Bitcoin, the largest cryptocurrency, is down 8.27% this month, having collapsed below $60,000.

Shiba Inu Historical Turnaround in August 2021

Shiba Inu has followed in this footstep, with a 16.61% collapse in August due to its greater volatility. However, historical data suggests SHIB could be looking to record an impressive rebound. Notably, a similar bearish turn of events sprang up during the previous bull market phase in August 2021.

For context, before August 2021, SHIB had engineered an impressive surge from January to May 2021. After hitting a new peak in May, Shiba Inu faced resistance and collapsed by more than 35.76% in the following two months. Similar to the trend this year, SHIB faced uncertainty in August 2021 despite starting the month bullish.

Nonetheless, the meme coin managed to close the month with a 9.77% increase, bringing an end to its monthly losing streak. Following a meager 4.62% rise in September 2021, Shiba Inu recorded another massive upsurge in October of that year, amounting to an impressive 827% surge. This pushed SHIB to the all-time high above $0.000088.

Lucie spotlighted this historical performance in a tweet earlier this August. She stressed that the early investors who were in the community in August 2021 are fully aware of the stunt Shiba Inu pulled. Lucie charged the community to remain bullish.

An Imminent Repetition?

The remarks triggered speculation that a repeat of the August 2021 turning point could be on the horizon. Notably, Shiba Inu has been on a downward slope since it reached a yearly peak of $0.000045 in March. The last two months, June and July, have brought losses, similar to what happened in 2021.

If Shiba Inu witnesses a shift in momentum and manages to end this losing streak by recording a gain this month, this could represent a turn in the tides. Notably, SHIB currently changes hands at $0.00001328. If the meme coin replicates the October 2021 rally this year, its price would skyrocket to $0.0001231, a new ATH. 

Interestingly, the $0.00012 territory has come up in multiple Shiba Inu predictions. In April, market analyst Eunice suggested that SHIB’s next upsurge could push it to $0.000125. Early in March, Shiba Inu lead Shytoshi Kusama boldly asserted that a $0.00012 target level is an underestimate.