Shiba Inu (SHIB) faces a "death cross": possible trends

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Although the meme-inspired cryptocurrency Shiba Inu (SHIB) has fallen more than 35% in the past two weeks, its prospects may be more severe. On the price chart of SHIB, lower-order moving averages (such as the 23-day moving average) are crossing higher-order moving averages (such as the 50-day moving average) from top to bottom, forming the so-called "death cross". This signal usually means a strengthening of the bearish trend and indicates that a medium-term downtrend may occur.

Potential impact of the "death cross" warning

Currently, the price of SHIB token is $0.00002156, and the moving averages are approaching a crossover, which has not yet been fully confirmed. If the "death cross" forms, this may increase the downward pressure. Based on the current trend, SHIB may find support between $0.00001715 and $0.00001875. This area has shown strong support in the recent decline, and then bulls intervened, pushing SHIB to rebound by 14.3%.

Future risks and support areas

If the market continues to fall, SHIB may retreat to around $0.0000145, which is the next key support level. If this support is broken, SHIB may face greater selling pressure. However, if the bulls successfully hold the current support range, SHIB may form a local bottom here and usher in a rebound.

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