Mega Death Cross Threatens to Send Shiba Inu (SHIB) Into Freefall

Key Points

1. Shiba Inu (SHIB) is currently holding around $0.00001120 but struggling to maintain long-term support.

2. A 'death cross' is forming on SHIB's price chart, a rare and potentially bearish signal for the token.

3. If the death cross completes, SHIB could drop below $0.00001000, impacting its performance for the rest of the year.

4. The price previously attempted a rally in May but was rejected at $0.00001330.

5. This is the first time SHIB has experienced such a close death cross setup (less than 5% apart).