Shiba Inu Eyes Signal Never Seen Before on the Weekly Chart

The price of Shiba Inu is approaching a critical zone as it records its first-ever 50-week and 200-week moving averages crossing.

Since making its market debut in 2021, Shiba Inu has never had a golden or death cross on the weekly chart. That has changed, as recent price action has now taken the MA 200 above the MA 50.

Major Signal for Shiba Inu?

For the uninitiated, a death cross in this case occurs when the 50-week moving average crosses below the 200-week moving average. Meanwhile, a golden cross would see the 50-week MA move above the 200-week MA.

As the name suggests, a death cross signals short-term bearishness, indicating that the underlying asset may decline further. However, a golden cross suggests that a bullish price development is on the horizon.

Currently, the 50-week MA trades below the 200-week MA, with bearish price actions indicating a death cross has occurred. However, this was the only possible direction at this point, seeing as the 50-week MA was already above the 200-week MA. At the time of writing, the former is at $0.000014045 and the latter at $0.000014315.