SHIB Faces Reality Check After Golden Cross Breakout
Key Summary
Shiba Inu's rare Golden Cross breakout has been met with heavy selling pressure, forcing the token to retreat and test its support zone. Despite long-term expectations, the token's current trajectory is uncertain due to market concerns and the derivatives market storm. A potential drop below $0.00000450 could invalidate the Golden Cross and resuming its downward channel.
Analysis of the Golden Cross Breakout
The formation of a Golden Cross on Shiba Inu's daily chart is a strong bullish signal, indicating a potential trend reversal. However, the immediate reality check has forced the token to retreat and test its support zone. The 50-day moving average has crossed above the 200-day moving average, but the token's price has fallen sharply, losing 5.72% in 24 hours.
Technical Indicators
The Relative Strength Index (RSI) has retreated to a neutral 45.30, indicating that buyers' initial momentum is fading. The derivatives market storm has also triggered a cascade of forced liquidations, wiping out more than $634 million in trader positions over 24 hours.
Market Concerns
The token's high susceptibility to false breakouts is a significant concern, as a similar attempt at a reversal in August 2025 had already turned into a