Shiba Inu (SHIB) is displaying potential bullish reversal signals after forming a golden cross pattern on its four-hour chart, typically indicating a transition from bearish to bullish market sentiment. This technical development corresponds with recent price momentum that saw SHIB surge by 10% during a broader cryptocurrency market rally, notably influenced by Bitcoin’s upward trajectory.
The meme coin has recorded a substantial 20% monthly gain—its strongest performance since November—successfully breaching the critical daily 50-day simple moving average (SMA) at $0.0000124. This breakout strengthens the case for continued upward movement, though critical resistance barriers remain near the daily 200-day SMA at $0.0000149 and May’s peak resistance level at $0.00001764.
Evidence of robust investor accumulation appears supportive of price stability. Over 165,000 distinct addresses have collectively acquired more than 518 trillion SHIB tokens within the price range of $0.000014 to $0.000019. Such concentrated accumulation zones may create substantial buy-side pressure if SHIB approaches these levels.
Market sentiment now hinges on whether SHIB can capitalize on the golden cross momentum to challenge key overhead resistance barriers, with investor positioning and broader market dynamics serving as crucial determinants for the token’s near-term performance trajectory.