#ShibaInu owners are having a celebration as community analyst Oscar Ramos announced that “PUMPtober” is coming for the #memecoin🚀🚀🚀 .
According to Ramos, the seasonal trend where October historically brings renewed energy and growth to the cryptocurrency markets is starting to take its toll on $SHIB
. He emphasized that after long periods of stagnation, Shiba Inu's market momentum is starting to change.
Shiba Inu is currently trading at $0.00001722, having lost 6.56% in the last 24 hours. As of yesterday, SHIB's market value was $0.00001878, up 18% this month from a low of $0.00001586 on October 1.
Shiba Inu started its notable uptrend in the last week of September. Its value rose from $0.00001429 - on September 23 to $0.00002156 four days later and maintained most of the gains through the end of the month.
Ramos emphasized these significant uptrends in his latest #ANALYSIS , noting that he has achieved a 300% gain in his own siba inu credit position. The analyst encourages others to consider opening credit positions, confident of a significant uptrend to end the year.
Why we should expect a larger uptrend for Shiba Inu
One of the main catalysts for this optimism is the United Arab Emirates' recent decision to eliminate taxes on cryptocurrency transactions. Shiba Inu ecosystem leader, Shitoshi Kusama, highlighted this development in a post on X, causing excitement among SHIB holders.
The UAE's actions have positioned the region as a center of cryptocurrency activity. Ramos believes this could further increase the appeal of the siba inu as global investors seek a favorable tax environment for their digital assets.
In addition, Ramos noted that the gap in market capitalization between Siba Inu and Dogecoin is narrowing. Currently, Shiba Inu is worth $10.16 billion, while Dogecoin is worth about $15.6 billion. He noted that Dogecoin once held twice the market share of Shiba Inu, but that is no longer the case.
In fact, the narrowing gap emphasizes SHIB's resilience to market volatility, which continues to inspire optimism in the community.
Buy signal for SHIB
Despite the ongoing volatility, Ramos urges Shiba Inu holders to remain vigilant. He mentioned that his price indicator is signaling a strong buying opportunity, pointing to further upside potential as October progresses. The analyst emphasized that the indicator accurately predicted the late September surge that pushed #SHIB، to $0.000021. He advises investors to closely monitor market movements and ignore negative sentiment, which he considers a typical pattern before major rallies.
