A week ago, we looked at possible scenarios that could lead to a golden cross forming on the price chart of Shiba Inu (SHIB), the meme-inspired cryptocurrency. ๐ Fast forward just seven days, and SHIB's price has seen some serious ups and downs. While it might look like these fluctuations have derailed those plans, the reality is a bit more complex. ๐ค
This past week, the cryptocurrency market as a whole dropped by 7%, with $162.7 billion wiped out due to Tether news and ongoing geopolitical tensions. Amid this, Shiba Inuโs price took an even steeper dip, falling from a high of $0.00001934 to a low of $0.00001583. ๐
But is Shiba Inu (SHIB) "back"? ๐
While things seemed bleak for meme coin fans and hopes for the golden cross, SHIB unexpectedly pushed above $0.0000163โright where the 50-day moving average lies. Even more promising, the price curve bounced back on this line, showing that bulls have strong support here! ๐โจ
