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Shiba Inu completed its first-ever weekly death cross this year, a move that marked a new phase for its price, which rose millions of percent in over a year after its inception.
A death cross, which occurs when a short-term moving average, in this case, the weekly MA 50, falls below the MA 200, was spotted on Shiba Inu's weekly chart in early November.
This signal coincided with broader crypto market weakness following October's crash, which saw a record $20 billion wiped out in a single day.
Shiba Inu fell to a low of $0.00000815 in the aftermath of the Oct. 10 flash crash; it not only lost the crucial $0.00001 support, but it also exposed weakness beneath. This drop reinforced a pattern of lower highs that has defined Shiba Inu trading action, tilting short term momentum to the downside.
Shiba Inu is currently on track for its fourth day of dropping after a recovery attempt from Friday's low of $0.000007 stalled below $0.00000765 as the technical structure still remains fragile.
At press time, Shiba Inu was down 1.68% in the last 24 hours to $0.000007147 as the broader crypto market fell early Tuesday and down 10.47% weekly.
What will 2026 bring?
According to recent CryptoQuant analysis, buying pressure seems to be weakening on the market. A reversal is expected, but this might not come so soon, as the markets require time to recover.
If this is the scenario, Shiba Inu may remain in its current range, consolidating for a few more months before a major move.
On the other hand, if the market receives sharp buying catalysts, Shiba Inu might recover. A return above the weekly moving averages 50 and 200 at $0.00001277 and $0.00001386 might reinforce this recovery to target $0.00003344 once again.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team
