|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Shiba Inu (SHIB) Approaches First Golden Cross Since December 2023, Signaling Potential for Price Surge
Oct 21, 2024 at 01:21 am
Nearing the first golden cross on its price chart since December 2023, the price of Shiba Inu (SHIB), the famous meme-inspired cryptocurrency
Shiba Inu (SHIB), the meme-inspired cryptocurrency, is preparing for its first golden cross since December 2023. As its 50- and 200-day moving averages converge, speculation mounts regarding another potential price rally, considering SHIB's past tendency to experience significant surges following similar technical patterns.
Golden Cross Anticipates Price Surge
Charting the second-largest meme coin by market capitalization, the price of Shiba Inu (SHIB) is rallying, nearing the first golden cross on its price chart since December 2023.
Two moving averages, the 50-day and the 200-day, have begun converging, as seen on the daily chart of SHIB.
Price Volatility After Breakout
The price of SHIB reached a six-month low on Oct. 3, kicking off an eight-day rally of 57% as SHIB broke out of a six-month downtrend. The price then dropped more than 27% over the next six days. Over the following 17 days, the price rallied 19.78%, converging with the moving averages that charted the entire rally.
This occurred once before last year, and in the two weeks that followed, the price of the Shiba Inu token rallied nearly 48%. Before the lines re-crossed to form what is known as a death cross on July 17 of this year, the price of SHIB rallied 148%, reaching a peak gain of 475% for the meme-inspired token.
Future Price Movements May Vary
It is important to note that just because the golden cross is forming again for SHIB, the same outcome is not guaranteed, U.Today points out. However, looking at the golden cross history of the meme coin, the token has seen gains following them statistically, but not consistently.
For example, one day after the golden cross in February 2023, the price of SHIB went up 25%; a few weeks later, it dropped 28%; and finally, the lines crossed again on July 17.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Shiba Inu (SHIB) Nears First Golden Cross Since December 2023, Raising Speculation of Another Price Rally
- Oct 21, 2024 at 10:15 am
- The convergence of its 50- and 200-day moving averages raises speculation about another potential price rally. Historically, SHIB has experienced significant surges after similar technical patterns.
-
- Dogecoin Price Peak And The Call To Move To ETFSwap (ETFS)
- Oct 21, 2024 at 10:15 am
- The Dogecoin price has been on the radar of analysts, with predictions of a significant price peak within the next two weeks. This upcoming surge is driving the buzz among investors, but some experts are now looking beyond Dogecoin's price and urging investors to shift their focus to ETFSwap (ETFS).
-
- Shiba Inu (SHIB) Price Prediction: Will the Dog-Themed Cryptocurrency Break Above the $0.00002 Mark?
- Oct 21, 2024 at 10:15 am
- Although flying under the radar concerning price movements during Bitcoin's recent bull run, the dog-themed cryptocurrency Shiba Inu (SHIB) was able to appreciate 8.18% in the last week while Bitcoin reclaimed the $69,000 mark on Friday.
-
- XRP Price Prediction: Seasoned Crypto Expert Declares He Wouldn't Cash Out Until XRP Rockets to $100
- Oct 21, 2024 at 10:15 am
- In a thrilling forecast, a seasoned crypto expert recently declared that if handed 1,000 XRP, he wouldn’t cash out until XRP rockets to $100. Here’s why he believes in this daring strategy—and why some investors might follow his lead.