- ShibaInu is showing signs of forming a price bottom, hinting at a potential rebound.
- ShibaInu past moving average crossovers suggest a possible recovery if historical patterns repeat.
Shiba Inu (SHIB) has been struggling recently. Over the last 24 hours, its price dipped 0.21% to $0.00001538. On a weekly scale, SHIB has lost nearly 7%, reflecting broader market struggles.
This downward trend comes with a key technical signal—the first major death cross of 2025. This bearish pattern happens when the 50-day moving average falls below the 200-day moving average. Traders see this as a sign of potential extended losses.
Market Uncertainty Adds Pressure
SHIB’s decline isn’t happening in isolation. The crypto market is under pressure due to macroeconomic concerns. The Federal Reserve’s cautious stance on interest rates has dampened investor enthusiasm.
Bitcoin, the leading cryptocurrency, has stalled under $100,000, affecting altcoins like SHIB even more. From February 15 to 18, SHIB saw a four-day losing streak before showing slight signs of recovery.
Adding to the negative momentum, ShibaInu has been declining since January, with an 18.64% loss in February alone.
ShibaInu: Can it come back?
SHIB’s last major moving average crossover was a golden cross in November 2024. That event led to a price surge, reaching $0.0000334 within a month.
However, the last death cross in July 2024 played out differently. SHIB’s price hit lows of $0.000013, then consolidated before reversing its trend.
If history repeats, SHIB might be forming a price bottom before making its next major move. Traders will be watching closely for signs of stabilization and recovery.
SHIB’s first death cross of 2025 signals caution. The overall market remains uncertain, but if SHIB follows previous patterns, it could find a support level before its next surge. Investors should keep an eye on key technical signals to gauge its next move.
