Shiba Inu (SHIB) is on the verge of forming a death cross, a bearish technical signal that occurs when the 50-day EMA crosses below the 200-day EMA.
If this pattern plays out, it could confirm a prolonged bearish phase for SHIB, making a recovery more difficult.
Currently, SHIB is trading around $0.00001629, following a recent attempt to rebound from its January slump.
However, unless buying pressure increases, the death cross may push SHIB further down, with potential support near $0.00001300.
Is There Hope for a SHIB Recovery?
Despite the looming bearish signal, there are some positive signs:
- SHIB recently bounced from $0.00001450, suggesting buyers are still active.
- A breakout above $0.000018 – $0.000020 could trigger a bullish reversal.
- Broader market conditions could help SHIB regain momentum.
SHIB remains in a critical phase, and investors are watching closely to see if buying interest returns or if the bearish trend strengthens.
If the sentiment shifts positively, SHIB might reclaim its position as the leading meme coin in the crypto space.