Cryptocurrency inspired by the same popular Shiba Inu (Shib) continues to undergo significant market pressure after this market downward trend.
We could highlight something positive, but the only optimistic thing to say by looking at the Table of Shib is that the negative will continue, which means that the end of the price collapse will come as soon as possible.
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As the prices of cryptographic assets drop, disturbing models appear on the graph and that the Shiba Inu token is no exception. In fact, the highly appreciated table of the price of the same memes was recently close to forming a death model.
For those who are not aware, a cross of death is when the mobile average of a lower time, in our case on the 50 days, crosses the mobile average of a higher time, in our case on 200 days, from top to bottom.
This is a disturbing motive that precedes a lower movement, and as it is formed on the daily delay, the consequences can be at least in the medium term. The price of Shiba Inu has already lost 4.4% since the start of the week, and the death cross has not even formed.
Possible scenarios for Shiba Inu (Shib)
This may indicate that the market is the price of the next drop. On the positive side, such behavior could mean that when the death cross finally arrives, it will not be the start of the fall, but rather the start of the end of the fall.
So there are not many options. The first is that the price of the Shiba Inu token will continue to decrease, the level of $ 0.000011 serving as the next major level of main support. And yes, it’s 26% below the current Sancture price.
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The second is that the Shiba Inu token will fluctuate between $ 0.000011 and $ 0.000017 until one of these extremes is reached. What is happening will then explain the future.