Shiba Inu (SHIB) Technical Breakout: Golden Cross and Double Bottom Pattern Signal Bullish Momentum

11.07.2025 16:26

Shiba Inu (SHIB) has formed a golden cross on its four-hour chart, with the 50-period moving average crossing above the 200-period moving average, signaling potential sustained upward momentum. This technical development follows an 18% monthly price surge – SHIB's strongest performance since November – including a 10% gain in the past 24 hours, pushing its price to $0.000013385.

The rally aligns with broader crypto market optimism as Bitcoin hit all-time highs above $118,000, triggering over $1.15 billion in short liquidations within 24 hours – the largest short squeeze in four years. SHIB's rebound from its April low of $0.00001005 suggests a developing double bottom pattern, a bullish reversal indicator. Confirmation requires breaking the pattern's resistance at May's high of $0.00001764, which could initiate a major bull run.

Current technical positioning shows SHIB breaking its consolidation range from late May, surpassing the daily SMA 50 at $0.0000124. Immediate resistance lies at the daily SMA 200 ($0.0000149), with IntoTheBlock data revealing 165,380 addresses holding 518.33 trillion SHIB between $0.000014-$0.000019. Supporting fundamentals include robust trading volumes of 1.904 trillion tokens in 24 hours and accelerated token burns removing 9.5 million SHIB from circulation.