Shiba Inu (SHIB) Might Be Gearing up for the Psychological Threshold of $0.0001

Having already experienced the first rally and a cool-off, Shiba Inu is ready for a parabolic phase that will see the eleventh-largest cryptocurrency super charged

Shiba Inu (SHIB) might be setting itself up to reach the psychological threshold of $0.0001 if the meme coin adheres to a historical trajectory.

After experiencing the first rally and a cool-off, Shiba Inu is preparing for a parabolic phase that will propel the eleventh-largest cryptocurrency to new heights, according to Solberg data.

SHIB experienced a parabolic phase in 2022, and if history repeats itself, this uptrend has already begun, considering that the meme coin has already risen 38.3% over the last two weeks, thanks to the broader crypto market's bullish rally.

According to CoinGecko data, Shiba Inu hovered around $0.000025, and a golden cross was already forming.

Despite SHIB experiencing a pullback from the $0.00003 zone after forming the golden cross, the bullish picture remains intact within the Shiba Inu ecosystem.

The golden cross is a bullish pattern because it indicates a shift from a downtrend to an uptrend. A short-term moving average (MA), such as the 50-day MA, crosses above a long-term one, such as the 200-day MA.

The retracement that is being observed could be defying the golden cross considering the high speculation surrounding the SHIB market.

However, whales are reportedly buying heavily after a new SHIB whale was found to have recently acquired 4 trillion Shiba Inu, which is bullish as it reduces selling pressure.

Moreover, whales have been credited for causing the SHIB burn rate to explode, with recent activity pushing it up by 1,837%. As Shiba Inu's scarcity increases dramatically, it remains to be seen if the meme coin will reach the much-anticipated price point of $0.0001.