Shiba Inu (SHIB) Poised For Golden Cross – How Will Prices React?

Christian Encila

1 year ago

3 mins read

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Shiba Inu (SHIB) has emerged as a star player in the face of tumultuous currents in the crypto market, signaling a potential game-changing move on the horizon.

Bolstered by a robust 28% surge in price over the past eight days, SHIB is now at the precipice of what traders refer to as a “Golden Cross,” a technical pattern that could herald further significant gains.

The Golden Cross, a term coined within the realm of technical analysis, is a pivotal point where a cryptocurrency’s short-term moving average crosses above its long-term moving average.

This event is often perceived as a bullish signal by traders, indicating a potential shift in momentum from bearish to bullish. In the context of Shiba Inu, this development could mark a turning point, potentially opening the doors to substantial price appreciation.

Source: TradingView

Current State of Shiba Inu

The current market data reveals SHIB’s potential ascendancy, with its price hovering around $0.00001047 according to CoinGecko. Despite a slight 1.1% dip in the past 24 hours, the crypto has exhibited a commendable seven-day rally of 7.0%, underscoring its resilience and growing investor interest.

SHIB price action today. Source: Coingecko

In the three years since its inception, Shiba Inu’s journey has been marked by rising fervor, culminating in a staggering 3.54 million addresses, a statistic validated by IntoTheBlock. However, the recent surge in momentum is palpable, particularly in the last month, which witnessed an electrifying surge in activity.

Shiba Inu is currently trading at $0.00001052. Chart: TradingView.com

Notably, the number of new SHIB addresses has surged by an astonishing 115% on a weekly basis, indicating an unparalleled level of investor enthusiasm and anticipation. This trend shows no signs of abating, as the past seven days alone have witnessed a remarkable 14.18% increase in SHIB addresses.

Shibarium: A New Age For SHIB Ecosystem

All eyes are now fixated on the impending release of Shibarium, a long-awaited protocol set to debut as early as August 15 or 16. This impending launch is expected to be a watershed moment, reshaping the entire landscape of the Shiba Inu ecosystem.

The anticipation surrounding Shibarium has undoubtedly fueled the recent surge, as investors eagerly speculate on the protocol’s potential impact.

SHIB is at a critical juncture, teetering on the brink of a technical transformation with the Golden Cross pattern looming on the horizon. With its recent price rally and the mounting excitement surrounding Shibarium, the coming weeks could prove instrumental in defining SHIB’s trajectory in the ever-evolving cryptocurrency market.

As traders and enthusiasts watch intently, SHIB’s journey continues to captivate with its twists and turns, promising both risks and rewards.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Lexica

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.