- Sellers offloaded over 1 billion SHIB tokens within 24 hours, breaking a key support level.
- Shiba Inu’s price dropped below $0.000010, reaching approximately $0.000009 amid high volatility.
- A death cross pattern formed, indicating potential for further price declines.
- The Relative Strength Index (RSI) reached 34.47, signaling oversold conditions but no immediate reversal.
- Market liquidity has decreased, increasing the risk of further price swings without new buyers.
Over the last 24 hours, holders of Shiba Inu sold more than 1 billion SHIB tokens on exchanges, causing the token’s price to fall below the $0.000010 support level to about $0.000009. This rapid sell-off triggered significant market volatility and erased gains from previous rallies.
Data indicates this volume of selling is considerably above typical daily averages, suggesting investors who accumulated during earlier price increases are now exiting positions. According to Shiba Inu team member Lucie, “Not only crypto – everything is red. We’ve survived so many downfalls that I stopped relying on books or so-called experts. My mindset now is simple: either I win, or I go to zero. No one predicted this outcome.”
A death cross has emerged in Shiba Inu’s technical charts, where the 50-day moving average passes below the 200-day moving average. This pattern is traditionally seen as a bearish indicator often preceding extended downtrends. Historical trends show such formations may result in an additional 20-30% price decline in subsequent weeks.
The Relative Strength Index (RSI), which measures market momentum, is currently at 34.47. This level indicates SHIB is oversold, a condition where prices may be lowered excessively; however, oversold trends can last for extended periods if no strengthening catalyst appears.
The $0.000009 price level has become critical for Shiba Inu’s short-term direction. Reduced liquidity in the order books has made the market more sensitive, so even small sell pressures may cause sharp price movements. Without fresh buying interest, the downward trend could continue, with the token’s support levels under ongoing pressure.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Trump Promises $2,000 Dividend from Tariff Revenue for Americans
- BRICS Called “Multipolarism of Fools” Over Fossil Fuel Hypocrisy
- Trump’s $2,000 Tariff Dividend Boosts Crypto Prices
- Robert Kiyosaki Buys Gold, Bitcoin Amid Crash Warning
- BRICS Pay Launches to Boost Trade in Local Currencies, Curb Dollar Use
