Although meme coins have lost a lot of momentum since December 2024, Shiba Inu (SHIB) is once again getting the attention of traders and investors. This is due to the bullish “Golden Cross” that SHIB formed on its daily chart this week. Shiba Inu bulls are now looking at a price of $0.000081, some 480% higher than its current level.
Shiba Inu price possibly ready for 480% pump
A golden cross is a bullish pattern that forms after a short-term moving average rises above a long-term moving average. In the case of Shiba Inu, the 50-day moving average has climbed above the 200-day. The golden cross is considered bullish and can lead to further increases in the short and medium term.
The current Shiba Inu price is still below the 50-day moving average, but a breakout above this level could lead to huge increases for SHIB. This may also signal the end of the downtrend that has been going on since December.
Shiba Inu price – Source: TradingView
Nevertheless, the fate of Shiba Inu depends on how the market reacts next week to last week’s developments. Think of the announcement of the US Strategic Bitcoin Reserve and the first ever Crypto Summit in the White House.
Nevertheless, a comeback for meme coins is inevitable, sooner or later. For that reason alone, whales are choosing to stock up on SHIB at its current level.
Shiba Inu whales continue to hold
Recent on-chain data shows that large SHIB whales with more than 100 billion SHIB ($1.4 million) are choosing to continue holding. While other altcoins have fallen, we saw that Shiba Inu fell little this week and even rose at certain points. The fact that large Shiba Inu whales continue to hold explains this price activity.
In addition to Shiba Inu, other popular crypto memes such as DOGE, PEPE and BONK are also holding on to strong support. This is a sign that meme coins may not drop much further from here. When crypto starts to recover, these volatile crypto coins may also rise again.
Which memecoins should you buy?
An interesting meme coin to keep an eye on is Mind of Pepe ($MIND). Not only does it attract a lot of attention from investors, but it also offers token utility to its holders. The new project uses its own AI agent, which scans social media and collects data. It shares its insights and new token launches exclusively with $MIND holders.
The new crypto meme is temporarily available through a presale, through which the project has raised over $7 million. During this period, investors can choose to stake their tokens in order to receive even more tokens later. Because $MIND offers new opportunities for traders, it may well become worth a lot more in the coming weeks and months.
