Historical data shows Shiba Inu (SHIB) has never recorded losses in February.While past trends aren’t an assurance due to the crypto market’s wild fluctuations, SHIB’s consistent patterns have grabbed the crypto community’s attention. Shiba Inu’s Feb performanceCryptorank’s stats show the dog-themed token has gained 21.1% on average in February, with 20.3% median returns.The figures highlight Shiba Inu’s stability during the previous February performance.SHIB gained 20.3% in February 2022, with the following year witnessing a modest 1.59% surge as global economic worries rattled risk-on assets.
Source: CryptorankThe altcoin’s performance improved in February 2024 with a remarkable 41.3% increase.The consecutive uptrends make Shiba Inu ripe for bullish actions as we close January 2025.SHIB’s current ecosystem outlook supports the upward narrative.The meme crypto experiences massive trading volume, with massive coins devoted to Open Interest.SHIB’s open interest has jumped past $359 million (Coinglass data) despite the altcoin’s 10% dip on the weekly chart.Moreover, the 1.1786 Long/Short ratio demonstrates traders executing long positions amid bullish projections. What’s fueling enthusiasm in SHIB?The latest announcement from Shytoshi Kusama catalyzed the improved trading activity within the Shiba Inu ecosystem.The SHIB lead teased an upcoming “powerful partnership announcement” after switching his role within the project.
Though without specific details, the hints of collaborations designed to transform the meme token attracted speculations about its potential future.Furthermore, SHIB has printed a massive green candlestick on the daily timeframe after a week of declines.That signals a momentum shift, further enhancing optimism within the Shiba Inu community. SHIB’s current price actionThe meme token trades at $0.00001892 after gaining over 1.4% in its daily chart.
Chart by CoinmarketcapWhile the declined 24-hour trading volume highlights weakness, the robust candle signals an imminent momentum shift.With February’s expected bullish performance, Shiba Inu looks to extend its prevailing uptrends.The altcoin will likely target the psychological mark at $0.000020 – a more than 5% increase from current prices.Bulls should ensure price stability above this zone to prolong the rally.The $0.000020 price mark coincides with the 38.20% FIB level and the 200 Exponential Moving Average line.Thus, a bullish comeback beyond this psychological zone might catalyze significant uptrends for SHIB’s price.The FIB levels show the altcoin might complete a round bottom rebound.That could trigger price surges to $0.000030 – a nearly 60% surge from current prices.Historical trends suggest significant gains for SHIB in the coming month.Increased trader activity and improving price actions support this narrative.However, enthusiasts looking to ride on Shiba Inu’s expected rallies in Feb should consider potential limitations.Shiba Inu’s history includes three Feb performances – which could be a minimal sample in a highly volatile marketplace.Moreover, broader market sentiments remain vital in shaping Shiba Inu’s trajectory.More By This Author:Dogecoin Drops 10% After Vivek Ramaswamy Resigns From DOGE Leadership Altcoin Update: Doge At A Key Turning Point As Monero Gains On Bitcoin’s Recovery Shiba Inu Launches Early Access To Its Metaverse After A Year-Long Delay
