Shiba Inu (SHIB) has formed double death cross signals on its short-term charts, hourly and two-hour, suggesting persistent bearish pressure. This technical pattern follows SHIB’s first daily golden cross in nearly two years, which occurred in November 2024. At the time of writing, SHIB was trading at $0.000005405, down 1.36% in 24 hours, marking its third consecutive day of decline. The price peaked at $0.000006018 on October 5 before falling and dropping below the 50-day MA support at $0.00000544. Traders are now watching the next support level at $0.00000523 (200-day MA) as the broader crypto market reacts to Federal Reserve minutes indicating a likely rate hike before year-end.
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