Shiba Inu confirms death cross amid major sell-off

Yesterday, Aug. 4, Shiba Inu's four-hour chart demonstrated the occurrence of a death cross signal, as the 50-period moving average has crossed below the 200-period moving average.

This happens when the meme coin's price continues to decline for the eighth consecutive day, bringing SHIB to levels that made the market pay close attention. The formation of the death cross pattern on SHIB's four-hour chart indicates an intensifying of the bearish momentum in the short term. According to CoinMarketCap data, at the moment of writing, SHIB is changing hands at $0.0000126, down 7.38% over the past 24 hours.#BTCMarketPanic #RecessionOrDip? #MarketDownturn #Babylon_Mainnet_Launch #BinanceHODLerBANANA $USDC $BNB $BTC