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Massive Death Cross Looming Over Shiba Inu (SHIB): What’s Next?
A rare and ominous technical signal is emerging in the Shiba Inu (SHIB) chart, signaling a potential long-term decline. The formation of a death cross between the 50-day and 200-day moving averages on Binance’s weekly chart could have severe implications for SHIB’s price action.
The last time SHIB came close to this setup was during its early consolidation phases; however, this instance is unique as it follows a full cycle top and a slow bleed through 2025. The chart shows the 50-day curve sloping downward, poised to cross below the 200-day moving average, a classical death cross formation traditionally associated with long-term bearish momentum.
Moreover, SHIB has failed to even test the moving average cluster above, indicating strong resistance at this level, which could further exacerbate any potential price decline. This setup would mark a new phase in SHIB’s market history and serves as a cautionary signal for many traders, advising them to exercise extreme caution or reassess their positions.
While death crosses are often discussed on daily charts, observing this configuration on the weekly chart is an even more significant indicator, especially given SHIB’s largely sentiment-driven price action. The coin has been heavily influenced by hype and momentum rather than strong fundamental backing.
At press time, SHIB is trading around $0.00001162.
Source: u.today
