Currently trading at $0.000022, Shiba Inu (SHIB) draws market interest as it jumped 30% within the week. This surge follows the appearance of a rare golden cross pattern, stoking excitement and indicating a positive trajectory. This development has spurred investor interest, with the possibility of SHIB deleting a zero from its price now within reach. But can SHIB maintain this momentum?

Golden Cross Appearance: Can SHIB Delete a Zero

When the 50-day moving average crosses the 200-day moving average, a bullish technical indication known as the golden cross pattern results. Historically, when this pattern shows on SHIB’s chart, it is frequently followed by sharper surges. The previous major golden cross for SHIB happened in late 2023, paving the stage for a strong rally that saw its price rise by more than 400% in just a few months. Currently, SHIB’s chart appears to be repeating this pattern. A possible breakout is set by the 50-day moving average climbing above the 200-day. This signal tracks SHIB’s most recent 18% spike, which in one day raised its price from $0.0000209 to $0.000022. Such changes boost investor confidence and signal that SHIB may be on the verge of losing zero, assuming the pace continues. SHIB’s burn rate has recently increased by 3,674%, adding to its course. The faster burn rate reduces the overall supply of tokens, potentially increasing the price as scarcity grows. Whale activity has also been noticeable, with significant investors expressing renewed interest, indicating a rising belief in SHIB’s upside potential.

The broader crypto market is also positive and ripe for SHIB’s projected rally. For instance, Bitcoin is nearing the $80,000 mark; should this momentum continue, SHIB might not be too far from deleting a zero.

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Author: Bitcoinist