Shiba Inu (SHIB) is showing signs of life after a long consolidation stretch, with a technical formation that could shift its short-term outlook - a golden cross on the daily chart.
The setup is forming between SHIB’s 23-day (green line) and 50-day (blue line) moving averages, where the shorter-term trendline is closing in on the longer one. A full crossover would mark the first golden cross in months for theShiba Inu meme coin.
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At press time, the asset is trading around $0.000014, up roughly 4% on the day. If the golden cross is confirmed, the next major resistance level appears around $0.00001864, implying a potential move of about 33% from current prices, up from where the 200-day moving average is currently stretching.
What is notable is how clustered SHIB’s moving averages have become. Both the 23-day and 50-day lines are hovering close together around $0.00001248 - $0.00001263, creating a short-term pivot zone. Holding this range could act as a launchpad for further gains. Losing it, on the other hand, might dragSHIB back into the lower support levels seen earlier this month.
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The appearance of a golden cross tends to catch attention for a reason; it signals not just a break from previous selling pressure but a possible shift in bias.
We will have to wait and see if SHIB can turn this technical spark into a sustainable rally. But for now, it is pretty obvious that Shiba Inu is finally starting to gain some steam, and the market is taking notice.
