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Shiba Inu's most recent market decline will more likely push the death cross formation, making it a reality. With the 50 EMA crossing 200 EMA, the bearish trend will solidify, indicating the end of the bullish phase for SHIB on the market. Unfortunately, only a strong and rapid price retrace will make things better now.
Shiba Inu has indeed attempted to recover after the strong decline in January, currently trading at around $0.00001629, but things are still not that great, considering how much SHIB lost in the past. The 50 EMA has already reached the 200 EMA, and death cross looks unavoidable at this point in time.
Not everything appears as bad though. The late recovery from $0.00001450 suggests that low-level buyers are still active. SHIB may be able to avoid the bearish signal and at some point reach a reversal position, especially if the buying support returns on the market. Previously we saw a dangerous tendency: SHIB whales were selling rapidly, amid the market downturn.
Dan BurginIf sentiment gets worse over time, we might even see a plunge toward $0.00001300. The danger of the death cross is a bearish factor itself, which is why investors might be getting around SHIB as a pick for their portfolios. SHIB might find itself calmer at around $0.000018. The breakout of $0.00002 would certainly lead to a bullish recovery and revitalization.
Even though there is a bearish signal approaching, SHIB has not completely exited the bull market. Things might still get better, especially if we take a look at the rest of the market. Things are getting better with time and the same could be applied to Shiba Inu. The market needs more upside momentum and maybe as the time passes, Shiba Inu will become the "meme coin king" as it once were.
Godfrey Benjamin
Yuri Molchan
Dan Burgin
Vladislav Sopov