CandleFocus Shiba Inu (SHIB) Golden Cross Drama Takes Unexpected Turn
2024-11-03
Author: Content Editor
Shiba Inu (SHIB), a meme-inspired cryptocurrency, has experienced a significant drop of over 6.1% in the past 24 hours, nearing its lowest level since late October. The drop below the 50-day moving average on the daily price chart, a key indicator for short-term trends, has attracted attention from investors. The last time SHIB fell below this average, it resulted in a 50% decline over 100 days. Currently, SHIB is approaching a potential golden cross, where a short-term moving average crosses over a long-term moving average, signaling upward momentum. However, the struggles to maintain key short-term levels may pose challenges for the anticipated cross, potentially impacting the direction of the token.
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