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Shiba Inu (SHIB) on Verge of Death Cross: Possible Scenarios
As the price of Shiba Inu (SHIB) continues to decline, the cryptocurrency is approaching a critical point known as a death cross. This phenomenon occurs when the 50-day moving average falls below the 200-day moving average, which can be a bearish sign for investors.
In the last few days, SHIB has been struggling to recover from its recent declines. A week ago, the bulls made an attempt to push prices back up towards $0.00001875 per token, but unfortunately, they failed to break through that resistance zone. As a result, the current price action indicates further selling pressure.
The failure of this recovery attempt has led to an even more drastic decline in the SHIB’s value, with the price now nearing $0.0000165 per token. Given the bearish momentum we’re seeing, it is possible that the cryptocurrency may threaten the support zone at $0.0000145 per token.
It is crucial for investors to be aware of these potential scenarios and consider them in their investment decisions.
Source: u.today
