The post Shiba Inu Surges 36%, Triggers Golden Cross—SHIB to $0.00081? appeared on BitcoinEthereumNews.com.

Shiba Inu has been predicted to be targeting a critical resistance level at $0.000035 to advance towards the $0.00081 zone in a 300% run.  Currently, whales are aggressively accumulating the asset; however, analysts anticipate a short-term pullback from the 30% addresses that are currently in profit.  Shiba Inu (SHIB) has emerged as one of the biggest winners in the recent rally as it made a 36% surge in just 24 hours to trade at $0.000028. According to our market data, the asset has taken a marginal nosedive to shrink a significant portion of this gain, as it currently has a daily positive return of 11%. Meanwhile, its seven-day gain is still around 53%. Subjecting Shiba Inu to technical analysis, we discovered that the asset had formed a bullish “Golden Cross” pattern with its 50-day Exponential Moving Average (EMA) crossing the 200-day EMA. This implies that the bearish effect of the Death Cross emanated some months ago has been invalidated. Source: TradingView Assessing the current market trend, our analysts observed that the bullish momentum could be extended but should be approached with caution. The reason is that 30% of Shiba Inu addresses are in profit. In this case, they may resort to liquidation and subject the asset to a bearish reversal. Currently, SHIB would have to breach its immediate resistance level of $0.00002976 to enter the psychological level of $0.00003000. However, failure to secure this position could see the asset pulling back to the $0.00002267 level. Meanwhile, an analyst identified as Kizoki believes that the asset could likely focus on the upward trend and secure the $0.000035 level before targeting the $0.000045 zone. Analyst Predicts 300% Run for Shiba Inu For analyst Javon Marks, Shiba Inu would likely hit $0.00081 in a 300% run. Still fairly fresh off of a confirmed…

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Filed under: News - @ November 11, 2024 9:21 pm