SHIB’s Golden Cross: A Mega Rally or Just Another Meme?

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Meme coin Shiba Inu (SHIB) $0.000014, with a 24h volatility of 5.6%, a market cap of $8.44 B, and a 24h volume of $334.27 M, has joined the broader crypto market rally, gaining 7% in the last 24 hours, with its market cap soaring past $8.14 billion. 🚀

On-chain metrics and the “Golden Cross” chart pattern suggest that the SHIB rally could continue moving ahead. Market analysts, with their crystal balls and tea leaves, believe the possibility of another 35% upside from here. 🧙‍♂️

Shiba Inu Price Chart Forms “Golden Cross”

Shiba Inu has just formed a bullish technical pattern on its chart, with the 20-day exponential moving average (EMA) crossing above the 50-day EMA, a formation commonly known as a “golden crossover.”

Shiba Inu Golden Cross formation – Source: TradingView

This signal, often seen as an early indicator of upward momentum, last appeared in May 2025 near the $0.00001320 mark. At the time, SHIB surged nearly 34% to a local high of $0.00001765. The current crossover has occurred around $0.00001358, a strikingly similar level, fueling speculation that the token may be poised for another breakout. 🌟

The golden crossover normally suggests a shift in market sentiment, where short-term momentum overtakes long-term trends, signaling the potential start of a sustained uptrend. However, let’s not forget that in the world of crypto, anything can happen, and the market is as unpredictable as a Shiba Inu’s next trick. 🐕

The SHIB price is currently testing minor resistance around $0.00001421, a level it previously struggled to reach. Should bulls push past this hurdle, the chart highlights additional supply zones at $0.00001468, $0.00001577, and $0.00001765. A sustained move beyond these resistance levels could pave the way toward $0.00001809 and $0.00001867, both considered low-resistance zones. 📈

This breakout scenario mirrors SHIB’s May rally and could mark a potential upside of 33% to 38% from current prices. The SHIB price could also see a 2021-like mega bull run, but let’s not get too ahead of ourselves. 🚀

On-Chain Data Shows Major Strength for SHIB

Shiba Inu’s on-chain exchange reserves have declined to 83.8 trillion tokens, the lowest in more than a year, according to data from CryptoQuant. At the current price of $0.00001358, this amounts to roughly $1.14 billion in SHIB held on centralized exchanges. 📊

Shiba Inu Exchange Supply Drops – Source: CryptoQuant

This marks a sharp drop from the 150 trillion-plus tokens stored on exchanges in 2024, indicating that selling pressure has eased significantly. The declining reserves suggest that more holders are moving SHIB off exchanges, potentially signaling stronger long-term conviction. 🤝

Shiba Inu is seeing a surge in social media activity, which could support a bullish long-term price outlook. According to Santiment, SHIB’s social volume jumped 126% in the past 24 hours, reaching its highest level since January. 📢

Shiba Inu social volume surge – Source: Santiment

The spike suggests growing community engagement and renewed interest in the meme coin. If the trend continues, rising investor chatter could translate into stronger buying pressure, further fueling the current rally. But remember, in the world of crypto, the only constant is change. 🌍

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2025-07-16 23:52