Shiba Inu (SHIB) Golden Cross Happening Despite Price Drop: What's Next?

$SHIB successfully delivered the golden cross signal, but price might remain in same place

A"golden cross" occurs when the short-term moving average crosses above the long-term moving average. This is seen as a bullish signal and indicates a potential uptrend in an asset's performance. The golden cross is considered a key technical indicator by traders and analysts alike. When a golden cross forms, it can attract new buyers who seek to capitalize on the potential uptrend, leading to increased demand and upward price movements.

However, Shiba Inu's high volatility makes it a challenging asset to trade. The token's price is susceptible to large swings, as seen in the recent 17% price drop. This is largely due to its popularity among speculative investors.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Utoday_en /  🏆 295. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shiba Inu (SHIB) Can Reach $1 Thanks to These Drivers, Bone ShibaSwap (BONE) Account SaysAccording to official BONE account, it is possible for SHIB to reach $1 level
Read more »

Shiba Inu (SHIB) Extremely Unprofitable, On-Chain Data Shows, Here's What It Means for Asset$SHIB profitability drop might severely affect the token's performance in the future, here's how
Read more »

Lead SHIB Developer Adds Optimism to Shiba Inu Army on Shibarium LaunchPerson calling himself Shytoshi Kusama has addressed SHIB army and 'Shiba Wings' regarding upcoming Shibarium launch
Read more »

223 Billion Shiba Inu Acquired as Lead SHIB Developer Raises His Head About ShibariumLarge amount of SHIB purchased by this whale to increase his Shiba Inu bet
Read more »

Shiba Inu (SHIB) Payments Expand to NFT Marketplaces, 40 Countries via These IntegrationsShiba Inu (SHIB) payments can now be accepted on NFT marketplaces via this integration Shibainu SHIB ShibArmy SHIBCommunity $SHIB
Read more »

SHIB Burn Rate Sinks as Shiba Inu Price Continues to Stay in RedShibaInu burn rate has plunged in response to recent $SHIB performance. shibburn
Read more »