Shiba Inu (SHIB) is nearing a critical technical breakdown never before observed on its weekly chart. The 50-week moving average (MA) is dangerously close to crossing below the 200-week MA — a formation traders refer to as a "death cross."
Why This Death Cross Matters
- Higher Timeframe Significance: Unlike shorter timeframes, weekly death crosses signal prolonged bearish momentum, often marking later stages of a weakening market.
- First-Ever Occurrence: SHIB has never experienced this pattern on its weekly chart, making the current setup historically significant.
- Proximity Alert: The two MAs are now less than 5% apart. A confirmed cross could redefine SHIB’s long-term price trajectory.
Current Price Action
SHIB is struggling to hold above $0.00001120**, a level that has served as long-term support multiple times since 2021. Recent attempts to rally in May were rejected at **$0.00001330, where the converging MAs now form stiff resistance. Since then, the token has trended downward with diminishing momentum.
Potential Scenarios Ahead
Breakdown Confirmation:
- A drop below $0.00001000 could trigger a steeper decline, revisiting prices last seen in early 2023.
- Bearish technical indicators (e.g., weakening RSI, declining volume) support this possibility.
Prolonged Consolidation:
- Death crosses often precede extended periods of sideways movement or slow declines rather than immediate crashes.
👉 Track SHIB’s real-time price movements here
FAQs
Q: Does a death cross guarantee a price crash?
A: No, but it typically aligns with sustained bearish pressure or stagnation, especially on higher timeframes.
Q: What’s SHIB’s key support level to watch?
A: $0.00001000 is critical. A close below it may accelerate losses.
Q: How rare is this setup for SHIB?
A: This is the first-ever weekly death cross in SHIB’s history, amplifying its significance.
Q: Could external factors alter this outlook?
A: Yes—major ecosystem updates, Bitcoin market shifts, or macroeconomic events could disrupt the pattern.
Key Takeaways
- SHIB’s weekly death cross is 97% confirmed, pending final MA crossover.
- Traders should monitor $0.00001000 as a decisive level for downside risk.
- Historical data suggests sluggish performance or further declines could persist for months.
👉 Explore advanced trading strategies for volatile markets
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice.
### SEO Keywords Integrated:
1. Shiba Inu (SHIB)
2. Death cross
3. Weekly moving averages
4. SHIB price prediction
5. Bearish breakdown
6. Cryptocurrency technical analysis
7. Long-term support