Shiba Inu Inches Closer to Golden Cross Amid Wild Price Ride

Shiba Inu community remains hopeful of a massive price rebound as the golden cross formation is finally within reach

Shiba Inu’s (SHIB) journey toward a golden cross price chart has been volatile and unpredictable. Just a week ago, the possibility of this bullish crossover seemed within reach, setting the stage for a fresh bullish rally among the SHIB Army. However, the last few days proved turbulent. Despite market drops and economic shifts, SHIB’s resilience shows its golden cross hopes are still alive.

How Shiba Inu Weathered the Market Storm

In the past week, the crypto market has felt the impact of broader financial uncertainties. As the report about Tether and geopolitical tension shook investors’ confidence, the market saw a $162.7 billion dip. Shiba Inu felt these waves hard, dropping its price sharply from $0.00001934 to a low of $0.00001583. 

This sharp decline may dash all hopes for the golden cross. Due to the price crash, the SHIB ecosystem had to make efforts to reduce the circulating supply of the token. When it looked like SHIB’s golden cross was out of reach, the token found strength. It rebounded above $0.0000163, right where the 50-day moving average sits. 

Even better, SHIB retested this price zone, showing that its bulls were still in control and determined to support the price. Many said Shibaruim’s recent achievement helped the price rebound. According to CoinMarketCap data, the digital asset is currently trading at 0.000017, up by 3.52% in the last 24 hours. 

The Golden Cross Remains Within Reach

The 50-day moving average remains crucial in achieving the Golden Cross. Market experts believe if SHIB remains above the 50-day moving average and stays within the two moving averages, bullish signals may emerge soon.

Despite the week’s turbulence, SHIB has stayed within this range, and the potential for a golden cross remains open. Shiba Inu’s price changes have challenged its community, but the golden cross possibility remains. 

This potential shift could reignite hope for Shiba Inu enthusiasts eagerly watching the market for positive developments.

Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.