Shiba Inus Seasonal Surprise: A Bullish November?
- A recent seasonality report suggests a potential bullish phase for Shiba Inu, particularly in November.
- Combination of bullish market sentiment and the possibility of favorable crypto tax policies under a potential new administration has fueled interest in SHIB.
- Many Shiba Inu investors are holding onto their positions, with hopes of significant gains in the coming years, especially if there are changes to crypto taxation.
A recent report suggests that Shiba Inu is on the brink of a bullish trend. Barchart, a trusted source for market analytics, recently released a seasonality report on Shiba Inu (SHIBUSD), hinting at a potentially bullish phase. The study highlights recurring patterns in SHIBs performance, emphasizing Novembers historical strength with an average return of over 7%. Investors might interpret this as a signal to hold, anticipating further gains in the coming weeks.
However, a broader perspective points to 2025 as the pivotal year for crypto holders. Speculation surrounding Donald Trumps economic-friendly policies suggests that his potential re-election could bring favorable changes to crypto taxation. Reports indicate he might waive the 30-40% capital gains tax, incentivizing long-term holding and fostering an ideal environment for crypto growth.
Shiba Inu Soars: Newbie Investors Fuel the Rally
All these could have triggered a frenzy among newbie investors who are increasingly emboldened to speculative trading in riskier assets such as meme coins. This is evidenced by the number of Shiba Inu holders which has reached a record high of 1,427,381, indicating strong community support and growing investor interest. This bullish sentiment, coupled with the potential catalyst of the upcoming US presidential inauguration, could further fuel the rally.
Consolidation phase looks like its closing. Now we accumulate til the next catalyst which IMO (Not advice) looks like January 20th during the inaugural ceremony of the next President of the United States of America. Who is pro-cryptocurrency, a market observer wrote.
For now, many Shiba Inu investors are adopting a patient stance, with eyes set not just on the moon but beyond, as they prepare for the possibility of a tax-advantaged Trump Economy.
Read more: https://www.tronweekly.com/shiba-inus-seasonal-surprise-a-bullish-november/
Text source: TronWeekly
