Shiba Inu ($SHIB) staged a recovery this week, climbing from $0.00000474 to $0.00000551, a 17% increase, as crypto buyers pushed through both policy and macroeconomic headwinds.

The broader market rebound followed the Federal Reserve's decision on Wednesday to raise its benchmark rate by a quarter percentage point, to a range between 3.75% and 4%. Benchmark rate decisions are closely tracked in crypto because borrowing costs feed into the liquidity conditions that risk assets trade on. The failure of the Clarity Act bill earlier in the week did not discourage investors, as bitcoin and altcoins rallied nonetheless. Adding further support to 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. Tokenized representations are blockchain-based instruments designed to mirror publicly listed shares, bringing equities exposure onto crypto trading venues.

A Golden Cross Takes Shape on the Hourly Chart

Moving averages smooth price action over a set number of periods and are widely used to gauge trend direction. $SHIB has now risen for three consecutive days and is entering a fourth, during which it completed a golden cross on its hourly chart. The 50 moving average rose above the 200 moving average on that timeframe, a development that came shortly after a death cross emerged on the 4-hour chart on Thursday, September 17, 2026. A golden cross forms when a short-term moving average climbs above a longer-term one, a pattern technicians commonly read as a shift toward upside momentum; the death cross is its bearish mirror image.

Notably, Shiba Inu invalidated the death cross signal on its 4-hour chart, rebounding almost immediately after the signal appeared. The token began its climb on Wednesday, September 16, 2026, from a low of $0.00000474, moving in tandem with the broader crypto market's advance; the death cross printed one day later, on Thursday. The rally continued, breaking above the daily 50 MA and 200 MA at $0.00000502 and $0.00000529 respectively, before reaching $0.00000551.

The Road to $0.000006

The analysis identifies the $0.000006 range as the next target for bulls, with a major hurdle at $0.00000575 standing in the way. A slight barrier first lies at $0.00000558, which $SHIB would likely overcome given immense buying pressure. A retest of the $0.00000623 level, and a decisive breach above it, would create a foothold for buyers above the $0.000006 level. The observable checkpoints from here are whether the reclaimed daily moving averages at $0.00000502 and $0.00000529 hold as support, and how leverage conditions develop.

According to Glassnode, an on-chain analytics firm, altcoin leverage remains 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 could cut short Shiba Inu's journey toward the $0.000006 range.