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Shiba Inu is struggling to gain ground above $0.000006 after a fall to rare lows of $0.000005 on Feb. 6.
At the time of writing, SHIB was trading down 0.28% in the last 24 hours to $0.000006 and down 13% weekly. The cryptocurrency is on track for its fourth day of dropping from Feb. 7 as investors took profits.
"Extreme fear" prevails as the dominant sentiment on the market, with the Crypto Fear and Greed Index now at 10.
This comes after the majority of cryptocurrencies extended recent losses despite last week's steep drop.
No death cross yet
Shiba Inu is down 12% weekly, having experienced a sell-off since the start of February. This follows continued profit-taking since a strong surge for the first few days of 2026, which reached a high of $0.0000010.
Taken from this high, Shiba Inu has dropped nearly 50% reaching a low of $0.000005 on Feb. 6.
Amid this drop, one will naturally expect death cross signals on the hourly and daily time frames, but this is not so, as no single death cross is yet to appear on the one-hour to four-hour charts in February, not to mention the daily charts.
A death cross occurs when the moving average 50 drops below the moving average 200 and is considered a bearish signal. The last death cross signals produced on the one-hour, two-hour, three-hour and four-hour charts were in late January.
This nonappearance of definite signals, including a death cross or a golden cross, reflects the current uncertainty on the market. Futures data suggests deleveraging with negative funding rates on major exchanges, even as options markets hint at imminent stabilization.
Bearish momentum on futures is intensifying as open interest (OI) continues to drop, indicating that the deleveraging phase on the market is continuing.
Dan Burgin
U.Today Editorial Team
