Shiba Inu’s Comeback: Is It a Miracle or Just a Dog Trick?

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So, Shiba Inu (SHIB) decided to rise from the ashes like a not-so-legendary phoenix after a recent death cross. I mean, you just can’t make this stuff up! 😅 A death cross, by the way, isn’t as spooky as it sounds—it’s just a fancy term for when a shorter-term moving average (think 50-day) decides to take a nosedive below the big boss moving average (the 200-day). Who knew finance could be this thrilling?

Let’s be real here—the daily SMA 50 just couldn’t keep up and has slipped under the daily SMA 200, officially making it a death cross party. 🎉 Before we all start throwing ourselves a pity party, Shiba Inu did have a little dip for four days straight but decided to pull itself together and attempt a comeback. Talk about an emotional rollercoaster!

As of now, SHIB is feeling its oats, up a dazzling 2.22% while trading at $0.00001555, which honestly feels like a quarter in a wishing well, especially after hitting rock bottom at $0.000015. That’s a solid three out of four days rocking the color green—someone call it the best comeback since sliced bread! 🍞

You might be curious why it dropped on Friday, and no surprise here: the crypto world had its own version of a heist movie with a plot twist—$1.5 billion vanished from the Bybit exchange. I guess crime does pay… if you’re a thief. That day was filled with red candlesticks and more panic than a cat in a room full of laser pointers. But come Saturday, Shiba Inu decided to dust itself off and give it another go!

Will SHIB rally higher?

Now, before you get your hopes too high, let’s talk business. SHIB needs to break through some major resistance levels to validate this bullish trend. Keep your eyes peeled on those daily moving averages of 50 and 200. They’re hovering around $0.00001821 and $0.00001926, looking more precious than a rare Pokémon card. 🎮

If the stars align perfectly and SHIB can sustain its upward dance, who knows? It might just prance its way towards $0.00003 or even higher! But don’t be surprised if it takes a little snooze instead—because, let’s face it, too much excitement might lead to another extended period of “meh”.

Now, I know we’re all freaking out about this death cross like it’s the end of days, but SHIB’s little rebound is making us ponder whether it’s just forming a price bottom. After all, these moving average crossovers love to play games—they often happen when something’s already oversold and desperate for a glow-up.

So, keep your eyes peeled, traders! We’re all waiting to see if this comeback can stick, or if it’ll be a dramatic one-hit-wonder. And, don’t forget, an overall recovery in the crypto market would definitely give SHIB a boost in the short run. Fingers crossed! 🤞

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2025-02-23 19:43