Shiba Inu Bear Trap? SHIB Mini Death Cross Denied

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Is the Shiba Inu About to Pull a Fast One? 🐕💰

In a twist that could only be described as cosmic irony, a golden cross has recently graced the hourly chart of Shiba Inu, raising expectations of a bullish reversal. Yes, you heard that right! A golden cross, which sounds like something you’d find in a particularly eccentric treasure map, occurs when a short-term moving average (like the 50 SMA) decides to play leapfrog over a long-term moving average (the 200 SMA). This signals potential upward momentum, or as I like to call it, the “please don’t let this be a false alarm” moment.

Now, this sudden signal hints at the potential of a bear trap, where bearish traders are lured into short positions like moths to a flame, just before a sharp price reversal upward. It’s like watching a cat toy with a laser pointer—hilarious until you realize you’re the one who’s been played. 😹

But hold your horses (or Shiba Inus, in this case)! Caution remains key. While the hourly golden cross is a positive indication, SHIB must confirm the breakout by sustaining above key resistance levels. Without sufficient follow-through, the rise may dissipate as swiftly as a magician’s rabbit. 🐇✨

On the macroeconomic front, investors are eagerly awaiting more insight into the U.S. economy on Wednesday morning, when the Bureau of Labor Statistics releases May’s consumer price index data. Dow Jones economists predict a 0.2% month-over-month increase, with headline CPI up 2.4% from the previous year. A hot report could spook investors who are already concerned about inflationary pressures, like a cat startled by a cucumber. 🥒

SHIB Price Action

At press time, SHIB was up 1.72% in the last 24 hours to $0.0000132, having reached a high of $0.00001353 following two straight days of gains since June 8. It’s like watching a toddler take their first steps—adorable, but you’re still holding your breath.

Shiba Inu has largely rebounded since its drop to lows of $0.0000119 on June 5, but its price is consolidating below the daily SMA 50 of $0.00001392 as markets anticipate its next move. It’s like waiting for the next season of your favorite show—will it be a cliffhanger or a satisfying conclusion?

Markets appear to be in a holding pattern as traders await new triggers, particularly U.S. inflation data, which could shift the Fed’s outlook. Stickier inflation could delay expected rate cuts and impact risk assets, but the market picture remains positive. If profit-taking picks up or the Federal Reserve implies a slower pace of rate decreases, it might pose a potential headwind for crypto prices. But hey, who doesn’t love a good plot twist?

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2025-06-11 14:50