• Shiba Inu (CRYPTO:SHIB) formed a short-term golden cross on its two-hour chart, a signal often associated with bullish momentum.
• The token fell 1.84% to US$0.000004937 after a recent rally as traders took profits.
• Trading activity weakened sharply, with spot volume falling 45.28% and derivatives volume dropping 59.03%.

Shiba Inu (CRYPTO:SHIB) formed a short-term golden cross after its 50-period moving average crossed above its 200-period moving average on the two-hour chart, although recent selling pressure has raised questions about the strength of the signal.

The token recorded steady gains between June 11 and June 15 before retreating 1.84% to US$0.000004937 as traders locked in profits following the advance.

“The recent golden cross is…