A Golden Cross has formed on Shiba Inu’s (SHIB) daily chart, with the 50-day moving average crossing above the 200-day moving average for the first time since November 2024. However, this rare bullish signal was immediately met with heavy selling pressure: the price dropped 5.72% in 24 hours, falling from $0.00000625 to $0.00000545. Derivatives amplified the sell-off, with over $634 million in forced liquidations in a single day, including $572 million absorbed by long positions. SHIB is now testing the critical support zone at $0.00000550, and a break below $0.00000530 would risk invalidating the Golden Cross signal and resuming the downward channel toward $0.00000450. Despite the difficult backdrop, long-term expectations remain supported by ecosystem plans including SHIB’s integration into the Solana blockchain.
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