Shiba Inu Eyes Daily Crossover As Hourly Golden Cross Sparks Volatility

Key Insights

Shiba Inu formed a golden cross on its hourly chart after rising sharply to $0.0000135 amid renewed buying momentum.

Fed Chair Jerome Powell’s dovish tone at Jackson Hole boosted optimism for a rate cut, igniting a rally in SHIB.

A major crossover between the 50-day and 200-day SMAs on the daily chart could shape market direction in the coming days.

Shiba Inu formed a golden cross on its hourly chart following a sharp increase in buying volume. The bullish crossover occurred as the short-term moving average moved above the long-term moving average, signaling potential upside in the short term. This development comes as SHIB surged to $0.0000135, a level not seen since mid-August.

The rally followed dovish remarks by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium, which sparked optimism about a potential rate cut in September. Market participants responded positively to the tone of Powell’s comments, with Shiba Inu among the top performers. Traders moved quickly to buy the dip, anticipating policy easing ahead.

Sharp Price Rebound Faces Resistance

Shiba Inu's price briefly touched a multi-week high before facing selling pressure. The surge led to a reported 2,491% short liquidation spike, highlighting the intensity of the move. However, the rally was short-lived as profit-taking emerged. At the time of writing, Shiba Inu was down 3.2% over the last 24 hours to $0.00001276. The token also recorded a 3% weekly loss.

Source: TradingView

On the daily chart, the 50-day and 200-day simple moving averages are drawing closer. This positioning sets up the possibility of either a golden cross or a death cross in the near term. Both moving averages have flattened, showing no clear upward or downward bias at present. The direction of this potential crossover may influence sentiment over the next few trading sessions.

Historical Signals Offer Mixed Outcomes

The last golden cross on the daily chart took place in November 2024, which preceded a move to $0.00003344. Conversely, a death cross in February 2025 was followed by a gradual decline to $0.00001 in the months after. As both averages move toward convergence again, market watchers remain alert to which formation will occur.