Key Insights:
- Shiba Inu completed a 2-hour death cross as the 50 moving average crossed below the 200 moving average during heavy selling pressure.
- SHIB dropped to $0.00000590 before rebounding slightly, confirming the level as immediate support during broader crypto market liquidations.
- Analysts track resistance at $0.00000733 and $0.00000968 as market sentiment and liquidity conditions continue driving short-term cryptocurrency price movements.
Shiba Inu recorded a death cross on its two-hour chart as selling pressure intensified across the crypto market. The short-term 50 moving average crossed below the 200 moving average while the token fell to $0.00000590. This technical development appeared as traders reacted to renewed macro uncertainty and declining liquidity conditions.
The token briefly touched $0.00000590 before buyers pushed it back toward $0.00000614 at the time of reporting. That rebound helped confirm the lower level as near-term support. However, the broader trend remained fragile as weekly losses widened to more than seven percent.
Liquidations Weigh on Sentiment
Market data showed nearly $485 million in liquidations over the past 24 hours. Additionally, the total crypto market capitalization declined by roughly $100 billion during the same period. Consequently, risk assets faced renewed pressure as global trade tensions and tariff concerns influenced investor behavior.
Source: TradingView
Shiba Inu’s current slide marked its third consecutive day of losses following its drop that began on February 21. Moreover, analysts linked the weakness to thin liquidity and reduced conviction among traders. The token moved in line with major cryptocurrencies as market participants trimmed exposure.
Resistance Levels Come Into Focus
Technical charts now show resistance forming at $0.00000733 and $0.00000968. Besides that, support remains at $0.00000590, with a lower cushion near $0.00000575 if selling resumes. Hence, price action around these levels may determine the next short-term move.
Shiba Inu continues to track broader risk sentiment rather than token-specific developments. Additionally, traders monitor macro headlines and overall market liquidity for direction. Price stability will likely depend on whether the wider crypto market regains balance after the recent wave of liquidations.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Shiba Inu Double Death Cross Completed Amid 5% Jump: Could This Be Bear Trap? - U.Today
Shiba Inu completed death cross signals on its short-term charts; notably, these were on the one-hour, two-hour and three-hour charts. The 50 MA across these price charts crossed below the 200 MA, indicating a death cross.
However, a surprising setup occurred on the market as prices rose across the
UToday1h ago
SHIB Climbs 1.45% as Golden Cross Signals Potential Breakout
Price rises 1.45% as golden cross signals possible bullish momentum.
Spot inflows surge, indicating some holders may lock in profits.
Open interest rises cautiously, showing traders hesitant to commit strongly.
Shiba Inu has attracted attention after climbing 1.45% over the past 24
CryptoNewsLand7h ago
SHIB Holds Weak Range as Burn Rate Drops and Pressure Builds
Key Insights
SHIB remains within a long-standing descending channel, with price stuck in the lower range and unable to break persistent resistance levels.
The burn rate dropped sharply, removing a short-term support factor and reducing retail-driven momentum seen earlier during increased
CryptoNewsLand18h ago
Shiba Inu: Shibarium Transactions See 1,889% Drop Amid Reset - U.Today
Shibarium, the Shiba Inu Layer-2 blockchain, recently underwent a major infrastructure update, with 86% of its blocks indexed. Daily transactions fell significantly to 557 post-upgrade. Despite operational functionality, explorer data is still syncing, which may explain the low transaction numbers. SHIB's price fell 0.94%, reflecting overall market bearish sentiment and subdued trading activity.
UToday04-05 12:37
