$SHIB Shiba Inu (SHIB) reversed three consecutive days of decline, rising 5% to 0.00000594 USD during Friday's early trading session, despite a recent "death cross" pattern on its hourly chart. Analysts believe this could be a bear trap, as the token briefly dipped to 0.00000562 USD before recording 12 consecutive hourly closes in the green. This rally was supported by positive regulatory news in the cryptocurrency industry, with the U.S. Securities and Exchange Commission (SEC) stating that tokens like SHIB may not need to be classified as securities. SHIB is currently attempting to hold above the 0.00000607 USD 50-day moving average, a key resistance level the token has been unable to sustain since January.

SHIB2,23%
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