Shiba Inu (SHIB) Rare Death Cross To Appear in Weeks: Details

Key Points

1. Shiba Inu (SHIB) is nearing a death cross on its weekly chart, where the 50-week SMA may fall below the 200-week SMA, a bearish technical signal.

2. A death cross often coincides with extended periods of market weakness or sideways trading, especially with declining volume and poor sentiment.

3. The $0.00001 level has acted as strong support for SHIB this year, potentially serving as a rebound point if prices decline.

4. Despite the bearish signal, SHIB's price could rally significantly to reach 2024 highs of $0.000045 depending on overall market sentiment.

5. At the time of reporting, SHIB was up 0.17% in 24 hours, trading at $0.00001178.