SHIB's price increased by over 11% in 24 hours to $0.000009 following the confirmation of a bullish "golden cross" pattern.
Technicals: The golden cross on short-term charts, a bullish MACD, and an RSI of 69.8 suggest strong upward momentum, though it is approaching overbought territory.
Catalysts: Major regulatory approvals in the US, UK, and Japan, along with a strategic partnership with the UAE government, are key fundamental drivers.
SHIB is currently trading at approximately $0.000009, marking an 11.35% increase in the last 24 hours.
The 24-hour trading volume has surged to over $314 million, indicating a significant rise in market interest and participation.
With a market capitalization of over $5.3 billion, Shiba Inu currently ranks as the 23rd largest cryptocurrency.
Regulatory advancements have provided a significant boost, with the U.S. OCC allowing banks to broker SHIB, the launch of regulated perpetual futures, UK law recognizing it as property, and Japan adding it to its "Green List".
A landmark partnership with the UAE's Ministry of Energy and Infrastructure aims to integrate Shiba Inu's Web3 technologies at a federal level for a transparent digital framework.
On-chain data shows a significant whale withdrawing 1.44 trillion SHIB (worth ~$12.58 million) from a major exchange, suggesting a long-term holding intention.
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