Something interesting is happening in Shiba Inu (Shib). An unusual technical event, Golden Cross formed in a weekly time frame. That's when the shorter moving average (as in 23 days) moves longer, in this case more than 50 days. It is a set up that traders pay attention to because it is historically related to strong bullish momentum.
Currently, Shib is up 7.5% over the past 24 hours to $0.0000162. Price jumps coincides with a wider market gathering and lifts some cryptocurrencies. But this golden cross? That's the point that's really interesting.
The last time Shiv saw this pattern on the charts was back almost a year ago, in February 2024. There was a 377% price explosion in March, sending Shiv to $0.00004567. The movement is not common, but it happened before.
Of course, the market is not that predictable. The Golden Cross suggests momentum, but it does not guarantee anything. The technical pattern is not a crystal ball.
Golden Cross is often seen as a sign of strong bullishness, but external market forces, investor sentiment and macroeconomic conditions are unpredictable. Just because it worked before does not mean that history repeats itself in the exact same way.
Related
Currently, Shiba Inu Token is moving along with other markets, while Golden Cross hints at something big on the horizon.
Could this lead to a massive rally or another short-term spike, or will it be another meme coin rally? Either way, this is a moment worth noting for anyone following Shiv's progress.
