Shiba Inu recovered this week, rising from $0.00000474 to $0.00000551, a 17% increase as the crypto bulls pushed through policy and macroeconomic headwinds.
The wider crypto market rebounded after the Fed on Wednesday decided to raise its benchmark rate by a quarter percentage point to a range between 3.75% and 4%. The failure of the Clarity Act bill earlier in the week did not deter bulls as bitcoin and altcoins rallied instead.
In a positive development that further boosted crypto prices, the Securities and Exchange Commission on Thursday issued an order creating a regulatory pathway for certain trading venues to issue tokenized representations of publicly traded U.S. stocks, effective immediately.
SHIB price rose for three consecutive days, now entering its fourth and completing a golden cross on its hourly chart.
SHIB/USD 1 Hour Chart, Image by TradingView
The 50 MA rose above the 200 MA on the hourly chart, completing a golden cross. This follows shortly after a death cross emerged on the 4-hour chart on Thursday, September 17, 2026.
SHIB to $0.000006？
Shiba Inu invalidated a death cross signal on its four-hour chart, rebounding shortly after the signal emerged. Shiba Inu started rising on Wednesday, September 16, 2026, from a low of $0.00000474 in tandem with the broader crypto market rise, with the death cross emerging a day later (Thursday).
The rise continued, breaking the daily MA 50 and 200 at $0.00000502 and $0.00000529 to hit $0.00000551.
The next target for the bulls is in the $0.000006 range, while a major hurdle at $0.00000575 must be conquered. In the meantime, a slight barrier lies at $0.00000558, but SHIB is likely to overcome it once it sees immense buying pressure.
A retest of the $0.00000623 level and a decisive breach above it will create a foothold for the bulls above the $0.000006 level.
According to Glassnode, altcoin leverage is still sitting below its risk threshold, with overheated conditions not currently met, indicating the potential for altcoins to run further. On the other hand, if overheated conditions are confirmed in the market, a retrace might cut short Shiba Inu's journey towards the $0.000006 range.