Shiba Inu has recently experienced a 3% dip in its price over the last 24 hours. Despite this decline, the cryptocurrency has entered what is known as 'golden cross' territory. A golden cross is a technical indicator that suggests a strong potential for momentum reversal, indicating that Shiba Inu's price may rebound in the near future.
This move into golden cross territory raises intriguing questions regarding Shiba Inu's future price trajectory. Enthusiasts and investors are keenly watching to see if SHIB can capitalize on this technical indicator to drive its price upward, potentially dropping a zero and marking significant gains by the end of 2024.
The concept of a golden cross arises when a short-term moving average crosses over a long-term moving average, often seen as a bullish signal. For Shiba Inu, this could mean recovering from its recent losses and gaining momentum.
