- SHIB edges toward breakout as golden cross nears on hourly chart
- Trading volume jumps sharply, signaling renewed interest around key price zone
- Sell pressure persists despite technical signals hinting at short-term recovery
Shiba Inu is gaining renewed market attention as traders track a developing technical pattern. Price action has tightened after extended weakness, placing SHIB near a sensitive zone. This shift has sparked fresh interest as short-term indicators begin to align.
Golden cross forms as SHIB stabilizes near resistance
Hourly chart data shows Shiba Inu nearing a golden cross formation. The 9-period moving average is approaching a crossover above the 26-period moving average. This setup places the key crossover level around $0.000007271. At the time of reporting, SHIB traded near $0.000007328, reflecting a 0.38% increase over the last 24 hours.
A golden cross often signals improving short-term momentum. Traders generally interpret it as an early indication of buyer strength. In SHIB’s case, the signal appears after weeks of steady decline that pushed prices below $0.00001. This backdrop increases the relevance of the current setup.
Source: Tradingview
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Besides technical structure, trading activity has improved. CoinMarketCap data shows volume climbing by 33.47% to $93.52 million. Rising volume typically supports breakout attempts by confirming participation. Consequently, sustained engagement could help SHIB challenge nearby resistance levels.
Despite these signs, volatility remains a defining factor. Shiba Inu has struggled to hold gains during recent recovery attempts. Price spikes have repeatedly faced rejection near short-term highs. This behavior highlights ongoing caution among market participants.
Earlier in December, SHIB experienced a similar golden cross. That event initially fueled optimism across the market. However, sellers quickly absorbed demand, reversing gains and reinforcing bearish control. Broader market uncertainty limited follow-through despite favorable signals.
Sell pressure and burn limitations shape SHIB’s outlook
Shiba Inu’s deflationary burn strategy continues to face challenges. While tokens are regularly sent to dead wallets, burn activity lacks consistency. Supply reduction alone has not delivered meaningful price stability.
Additionally, selling pressure remains persistent. Many holders continue exiting positions during minor rebounds. This trend reflects efforts to reduce exposure after prolonged losses. As a result, bullish momentum struggles to build.
Sentiment across the meme coin sector also remains cautious. Liquidity has rotated toward larger assets, reducing speculative inflows. This environment places greater emphasis on volume strength for any sustained move.
Although the golden cross improves SHIB’s short-term technical outlook, broader pressures remain in place. Continued volume growth and reduced selling will likely determine whether SHIB can confirm a breakout near current levels.
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