Shiba Inu (SHIB) has risen to prominence in the midst of the unpredictable crypto market, indicating that a major shift may be on the way. With a strong price increase of 28% over the last eight days, SHIB is on the brink of a “Golden Cross,” a technical pattern that could signal further significant gains.
The Golden Cross, a term used in technical analysis, is a critical moment when a cryptocurrency’s short-term moving average rises above its long-term moving average. This event could be a game-changer for SHIB and its investors.
The Golden Cross is often viewed by traders as a positive sign, suggesting a possible change in momentum from a downward trend to an upward one. For Shiba Inu, this could be a pivotal moment, potentially leading to significant price increases.
Shiba Inu in Numbers
According to current market data, SHIB is showing signs of potential growth, with its price currently at around $0.00001047 as reported by CoinGecko. Despite a minor decrease of 1.1% in the last 24 hours, the cryptocurrency has demonstrated a strong 7.0% increase over the past seven days, highlighting its stability and increasing popularity among investors.
Since its creation three years ago, Shiba Inu has experienced a growing enthusiasm, reaching an impressive 3.54 million addresses as confirmed by IntoTheBlock. The recent increase in momentum is particularly noticeable, especially in the last month, which saw a dramatic rise in activity.
This surge in interest and activity could be a positive sign for the future of SHIB and its investors. The number of new SHIB addresses has experienced a remarkable increase of 115% on a weekly basis, demonstrating an unprecedented level of excitement and anticipation among investors.
This trend shows no signs of slowing down, with the past seven days alone seeing a significant 14.18% growth in SHIB addresses. This surge in interest and activity could be a positive sign for the future of SHIB and its investors.
