Shiba

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Shiba Inu

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Today marked not only a new all-time high for Bitcoin but also a major breakout on the<a href="https://u.today/shiba-inu-shib-burn-rate-skyrockets-3674-amid-price-revival" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> price chart. According to Binance, the popular meme-inspired cryptocurrency "shot up" 11.44% today, going from $0.00001785 to $0.0000199.
More importantly, however, the price of the Shiba Inu token overcame a key dynamic resistance in the form of the 200-day moving average. If the SHIB price manages to maintain here, it can be seen as a confirmation of the bullish trends for the twelfth largest cryptocurrency.
The impending golden cross on the daily chart of the<a href="https://u.today/pivotal-bitcoin-btc-price-reversal-at-68685-shiba-inu-shib-recovery-begins-dogecoin-doge-bull" rel="noopener noreferrer nofollow">Shiba Inu token</a> also indicates that the flag is on the side of the bulls. The falling 200-day moving average is also involved in its formation, as well as the lower 50-day moving average, which is rising. When the smaller curve crosses the older one, a golden cross is formed. <img src="https://u.today/sites/default/files/inline-images/SHIBUSDT_2024-11-06_18-08-50.png" data-entity-uuid="a886add7-5448-4d60-9d05-5b41f03c5f65" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://www.tradingview.com/x/3LXA4JPb/&quot;>TradingView</a>">
The last time this happened with the price of the popular meme cryptocurrency was in December 2023. Then, at the peak after its formation, the price of SHIB reached about $0.000045 per token by March, which was almost 450% higher than at the beginning.
However, things may be different with the golden cross this time around, as the price of the Shiba Inu token already seems to be on a bullish trend. Perhaps it is the anticipation of the golden cross and its success in the past that is now working in advance to push the<a href="https://u.today/shiba-inu-shib-hits-30-day-high-is-ath-next" rel="noopener noreferrer nofollow">SHIB price</a> up. <a href="https://u.today/shiba-inu-shib-secures-key-price-high-as-golden-cross-nears" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Shiba Inu (SHIB) Secures Key Price High as Golden Cross Nears

U_Today

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