Shiba Inu rallied 17% this week and completed a golden cross on its hourly chart, putting the $0.000006 range in sight for bulls. One resistance level near $0.00000575 still stands in the way, while Glassnode data shows altcoin leverage has yet to reach overheated territory.
Shiba Inu rose 17% this week, climbing from $0.00000474 to $0.00000551, as crypto bulls pushed through a mix of policy and macroeconomic headwinds. The move came alongside a completed golden cross on the token's hourly chart, leaving one hurdle before the $0.000006 range comes into play.
The Federal Reserve raised its benchmark rate by a quarter percentage point to a range between 3.75% and 4% on Wednesday, a decision that coincided with a rebound across the wider crypto market. Bitcoin and other altcoins rallied too, shrugging off the failure of the Clarity Act bill earlier in the week. On Thursday, the SEC issued an order creating a regulatory pathway for certain trading venues to issue tokenized representations of publicly traded U.S. stocks, effective immediately.
Golden cross follows an invalidated death cross
SHIB's price rose for three straight days and into a fourth, during which its 50-hour moving average crossed above the 200-hour moving average to complete a golden cross. The signal follows shortly after a death cross that appeared on the token's four-hour chart on Thursday, September 17, 2026, which SHIB has since invalidated. The token started rising on Wednesday, September 16, from a low of $0.00000474, in tandem with the broader crypto market.
The path to $0.000006
The rally has already carried SHIB through its daily 50 and 200 moving averages at $0.00000502 and $0.00000529, up to $0.00000551. The next target for bulls sits in the $0.000006 range, though a major hurdle at $0.00000575 must be cleared first.
A smaller barrier at $0.00000558 lies in between, one the token is likely to clear once buying pressure builds. A retest of $0.00000623, followed by a decisive break above it, would give bulls a foothold above $0.000006.
According to Glassnode, altcoin leverage is still sitting below its risk threshold, with overheated conditions not currently met, pointing to room for altcoins to run further. If overheated conditions do get confirmed, however, a market retrace could cut short Shiba Inu's climb toward $0.000006.
Source: U.Today
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