- SHIB forms a golden cross on the 4H chart, signaling bullish momentum and potential price breakout.
- Price hits $0.00001249 with 2.14% daily gain and 1000% surge in burn rate.
- Shibarium nears 200M addresses, surpasses 1B transactions, boosting long-term SHIB outlook.
The cryptocurrency market currently focuses on Shiba Inu, following the formation of a golden cross pattern in the 4-hour chart. The technical signal indicating a change from bearish to bullish conditions places SHIB in a position to potentially break out.
Shiba Inu Rebounds Following Golden Cross Confirmation
The market price has exhibited a consistent rebound after its recent decline earlier this month. On April 6 SHIB experienced a decline from $0.00001232 to a low point of $0.00001030 which confirmed the presence of a bearish death cross. The token experienced a reversal from its previous downward trend since that time.
Market data shows that the SHIB price is gradually disappearing from its earlier consolidation trend. The token’s latest price sits at $0.00001249 following a peak of $0.00001265 during today’s trading session. In the last 24 hours, the asset’s performance revealed a 2.14% increase. SHIB’s burn rate experienced a dramatic increase of 1000% during early trading hours which coincided with the price surge. The development helped the token recover in the short term and caused investor optimism to rise.
Golden Cross Builds Momentum on Short-Term Chart
The SHIB/USDT 4-hour chart displays a golden cross where its short-term moving average has surpassed its long-term counterpart. This is often viewed as a bullish indicator that could drive price acceleration. While the golden cross is yet to form on the daily chart, the current pattern suggests the upward trend may continue if momentum holds.
Price consolidation appears to be giving way to a potential breakout as SHIB exits its earlier stagnant trading range. The token broke through its recent support level at $0.00001205 and has continued to move upwards to reach higher resistance levels.
Experts believe the token will breach the $0.00002 mark if its present trading strength continues. Altcoin market participants keep a close watch on this significant price threshold.
Shiba Inu has surpassed Hedera in market capitalization ranking and currently stands as the world’s 17th largest cryptocurrency. Market activity reflects rising investor trust in the memecoin’s pathway to recovery. Recent trading patterns together with technical signals demonstrate the potential continuation of this trend over subsequent sessions.
Shibarium Activity Strengthens Long-Term Outlook
Beyond technical indicators, Shiba Inu’s ecosystem continues to show signs of organic growth. Shibarium, its Layer-2 scaling solution, is approaching a new milestone with nearly 200 million registered addresses. The network has already surpassed one billion transactions, reflecting rising user activity.
Ecosystem engagement remains a key factor in supporting SHIB’s market performance. The sustained transaction volume across Shibarium suggests increasing adoption, which could provide further support to the token’s valuation. If growth trends continue, SHIB may gain ground on its larger rival, Dogecoin, in market rankings.
The combination of a golden cross formation, rising price momentum, and expanding on-chain activity sets the stage for a possible bullish phase.
