Verge

Shiba Inu

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
<a href="https://u.today/billions-of-shiba-inu-shib-moved-to-coinbase-selloff-incoming" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB) seems poised for a significant technical move, suggests the most recent market data. Following a robust 28% price increase over the last eight days, <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">SHIB</a> is now knocking at the doors of a promising "Golden Cross." 
For those unfamiliar with the term, a Golden Cross is one of the most looked-forward-to technical patterns in trading. It occurs when a short-term moving average, typically the 50-day exponential moving average (50 EMA), crosses above a long-term moving average, usually the 200-day exponential moving average (200 EMA). Historically, in many markets, this has been a bullish sign, indicating the potential start of a prolonged upward trend. 
<img alt="Shiba Inu" data-entity-type="file" data-entity-uuid="55ca4c64-1737-45ff-8433-7d9cccf8c5d8" src="https://u.today/sites/default/files/inline-images/13081.PNG">Source: <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">TradingView</a> 
The rise of <a href="https://u.today/shiba-inu-shib-lights-up-sparks-new-price-rally" rel="noopener noreferrer nofollow">SHIB</a> is more than just percentages; it is backed by tangible shifts in the market dynamics. A substantial increase in trading volume, coupled with increased liquidity and market depth, has given SHIB the much-needed momentum. These factors, in combination, have paved the way for the potential Golden Cross. 
But why does this matter? From a trader's viewpoint, these moving averages are not just lines on a <a href="https://u.today/xrp-paints-out-death-cross-but-theres-a-catch" rel="noopener noreferrer nofollow">chart</a>; they represent the underlying sentiment in the market. A Golden Cross, thus, suggests that the short-term sentiment is turning more bullish than the long-term sentiment. This could attract a new wave of investors and traders looking to capitalize on a potential upward trend. 
It is worth noting, however, that while technical indicators are powerful tools in a trader's arsenal, the world of cryptocurrency remains unpredictable, with a myriad of factors influencing prices. Investors should always do their own research and due diligence before making any financial decisions.

Shiba Inu (SHIB) Is on Verge of Golden Cross

U_Today

Other articles published on Aug 13, 2023

Hong Kong and Singapore to collaborate via Blockchain-based platform

Is Bitcoin security under threat?

Health Nexus brings liquidity to medical data for the 1st time

The Bitcoin bogeyman: what is a 51% attack?

Morgan Stanley CEO Gorman plays down Bitcoin growth

South Korea to introduce more legislation against cryptocurrency to fight money laundering

Join our free newsletter for daily crypto updates!