Shiba Inu (SHIB) is on the verge of forming a significant technical indicator known as a golden cross. This event occurs when the 50-day EMA crosses above the 200-day EMA. Traders often view this formation as a bullish signal, suggesting an upcoming uptrend. However, historical context and current market conditions indicate that caution is warranted.
Historical Context of Golden Crosses
In December 2023, SHIB last experienced a golden cross. At that time, many traders expected a price surge following the crossover. However, the anticipated momentum failed to materialize immediately. Instead, SHIB lost value for a while before eventually gaining traction later. This history reveals that golden crosses do not guarantee immediate or sustained price increases, especially for meme coins like SHIB.
Current Market Conditions Impacting SHIB
Currently, Shiba Inu has been trending downward over the past year. Analysts warn that further price retracement remains a possibility. Broader cryptocurrency market dynamics play a crucial role in shaping SHIB’s price trajectory. Additionally, community sentiment significantly influences market movements more than technical formations like golden crosses.

Recent forecasts suggest SHIB might experience slight fluctuations in price over the coming weeks. Analysts estimate it could reach around $0.00001854 by the end of October 2024. This projection reflects a modest increase of approximately 0.82% from current levels. The Fear & Greed Index indicates a state of greed among investors, which could contribute to short-term volatility.
Future Outlook: Timing of Recovery
If the golden cross materializes within the next 10 days, it could attract more market participants and increase buying activity. However, significant buying pressure is essential for a strong breakout past resistance levels. Analysts emphasize that current buying volume remains lukewarm.
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Looking ahead, whether this recovery occurs before or after 2025 remains uncertain. Predictions suggest that by the end of 2025, SHIB could potentially exceed $0.0000326. In conclusion, while the potential golden cross may signal bullish trends for Shiba Inu, traders should remain cautious and keep expectations realistic regarding immediate price movements.
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