May is often a turning point for Shiba Inu (CRYPTO: SHIB). In 2022, the meme coin plunged -42.1% over the course of the month, while in 2023, it suffered a softer setback of 15.4%. However, last year brought a 13.2% gain, breaking the pattern and setting new expectations.
Shiba Inu price, chart by TradingView
This year, investors will be watching closely as the coin aims to bounce back from a sluggish start to 2025. So far this year, SHIB has recorded a January drop of 10.9%, followed by a 26.1% decline in February and an 11.1% decrease in March. This downturn is reflected in the dismal quarterly return of -41.4%. However, April brought a modest recovery with a 6.07% gain, kicking off the second quarter on a positive note.
Reaching the $0.0000236 target would require a significant recovery, but not necessarily an unprecedented one. In March 2024, Shiba Inu experienced one of the largest single-month jumps in meme coin history with a remarkable 145.2% spike. However, such substantial price movements usually arrive with a specific catalyst, which SHIB currently lacks.
On the other hand, if May follows last year’s pattern and witnesses another positive month for Shiba Inu, then the target could be within close reach, especially if June continues the ascent, breaking its usual pattern of red returns.
This year, there’s a noticeable shift in market behavior. Volatility has decreased significantly, and traders are reacting more slowly. However, trading volume is gradually picking up again. Previously, Shiba Inu’s major breakouts, which occurred in April 2021 and March 2024, arrived with low-confidence setups that experienced a rapid shift.
Ultimately, when it comes to Shiba Inu, timing plays a more crucial role than fundamentals. If the coin decides to move, then it will do so swiftly. Only time will tell if May brings about a surprising recovery for the meme coin.
