A week ago, U.Today published an article discussing the potential outcomes that can cause the golden cross to show up on the price chart of Shiba Inu (SHIB), a well-known cryptocurrency that was inspired by memes.
Even though it has only been seven days since then, the price of SHIB has experienced significant volatility, which may initially appear to disrupt those plans but is actually more complex.
In light of Tether news and geopolitical concerns, the cryptocurrency market therefore saw a 7% decline throughout the week, resulting in a total loss of $162.7 billion. The Shiba Inu token dropped twice as much over this time, from a peak of $0.00001934 to a low of $0.00001583.
Shiba Inu (SHIB) is “so back”?
When SHIB’s price suddenly surged beyond $0.0000163, where the 50-day moving average spans, it appeared “so over” for the dreams of meme cryptocurrency aficionados, and the golden cross in particular. Furthermore, the bulls really displayed support from this price point when the price curve retested the suggesting band.
According to reports, one of the two essential elements of the golden cross is the 50-day moving average, which is the curve that crosses the other on the upside. In our instance, the bulls were able to keep the Shiba Inu token inside the range between the two moving averages, even if the price saw a severe double-digit decline.
The future remains bright for all Shiba Inu aficionados, since this just validates the earlier forecast that SHIB may be on the verge of a golden cross.
