Shiba Inu (SHIB) Forms Rare Golden Cross, But Crazy Unexpected Twist Emerges

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As a seasoned crypto investor with battle-scarred fingers from countless market swings, I must admit that the recent golden cross formation on Shiba Inu (SHIB) had me both excited and wary. The 16% plunge following the cross was indeed unexpected, but it’s not the first time we’ve seen such a dance in the crypto ballet.

Two days ago, the much-anticipated golden cross appeared on Shiba Inu (SHIB)’s price chart. However, instead of rising as expected after this pattern formed, Shiba Inu took an unforeseen nosedive. Over the subsequent two days, it dropped by over 16%, falling from a peak of $0.00003 to $0.000023. At this point, it reached a temporary low and triggered a reaction among buyers.

Recall that a golden cross occurs where two moving averages meet – specifically, the one with the shorter time frame (the younger) crossing above the other with the longer time frame (the older). A common instance involves the 200-day and 50-day moving averages: when the 50-day moves above the 200-day, it signals that the asset’s price might be underpriced and often predicts upcoming growth phases.

Shiba Inu (SHIB) Forms Rare Golden Cross, But Crazy Unexpected Twist Emerges

To illustrate using the Shiba Inu token as an example, the appearance of the golden cross indicated a significant surge exceeding 450% in value, happening between December 2023 and March 2024.

Alternatively, over the last ten days, the SHIB price has surged by more than 80%. The recent downturn in the last two days could be seen as a corrective move. This is particularly relevant considering today’s CPI report, which might bring temporary market instability.

Looking at it from here, the adjustment (which might stem from caution before a major economic report) appears sensible. It’s intriguing to consider how the golden cross on SHIB will unfold once investors can make choices undistracted by such factors.

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2024-11-13 12:19