Is Shiba Inu in Golden Cross Territory Going to Zero by 2024?
The crypto market is down 1% today, while Shiba Inu has down 3% in 24 hours to $0.00002462.
SHIB has gained 2% in a week and 31% in a month after Donald Trump's presidential win. Its one-day chart created a golden cross.
This suggests the currency has entered a longer-term bull phase, with additional rallies probable as more purchasers enter a euphoric market.
Is Shiba Inu in Golden Cross Territory Going to Zero by 2024? Today, SHIB's resistance (red) and support (green) levels form a bullish pennant, indicating a favorable period.
This means that the coin's price will break out shortly, maybe within a day.
Bullish that SHIB's 30-day average (orange) continues to climb above the 200-day (blue), indicating that its golden cross phase of a few weeks ago is just starting.
Along with these signs, the coin's trading volume is still significant, at $2 billion, 233% greater than 30 days ago.
This shows demand for SHIB, which has seen substantial transfers in the previous week.
As long as the Bitcoin market stays in its post-election bull market, the Shiba Inu price should grow dramatically in the following weeks and months.
Given its improving fundamentals, it may be better positioned than other meme tokens to benefit from a bullish 2025.
Shibarium, SHIB's layer-two network, was launched in August 2023, among other releases that have increased its value.
Shibarium's 4.5 million transactions have grown the Shiba Inu ecosystem and accelerated SHIB token burning.
Recently, more Shiba Inu games have launched, including SHIB: The Metaverse, which is long-awaited, might boost the coin's valuation next year.
It may hit $0.000030 in the next weeks before reaching $0.000040 in 2025.
