Shiba Inu rose 13.5 percent in September, posting its highest monthly return so far this year.

On Oct. 1, blockchain outlet U.Today reported Shiba Inu has shown brief weakness recently but is drawing investor attention on the back of a rebound that has lasted for weeks.

The market had initially viewed September as a period when Shiba Inu would be weak, but this year it broke from those expectations. Prices rebounded strongly in recent weeks, easing concerns about declines and supporting buying sentiment. Shiba Inu rose about 12 percent in July and posted positive returns in August and September as well, extending gains for a third straight month.

Shiba Inu, which suffered steep declines in the first half of the year, has rebounded in recent weeks, showing a recovery trend. In September it recorded the highest monthly rise this year, appearing to move away from its first-half slump.

The price action also supported that view. Shiba Inu started September at about $0.00000507 and rose to about $0.00000625 at an intramonth high. That rally improved the monthly return, and expectations are growing in the market that bullish momentum could further spur demand.

Attention is also turning to the outlook for October. In the cryptocurrency market, expectations for October strength are commonly called 'Uptober', and optimism has also grown that Shiba Inu could rise further after the September rebound. Crypto analysts see the bullish momentum lifting demand for Shiba Inu further and leading to bigger gains next month.

Still, as of that day, Shiba Inu was down slightly and had briefly slipped into a weaker range. Even so, what the market is watching is not the short-term pullback itself but whether the recovery since July can extend into October. After reversing a bearish September outlook with its rebound, the key point next month is expected to be whether the uptrend can be sustained.