SHIB Price Analysis: A Death Cross Formation
As per CoinMarketCap , SHIB now trades below $0.000008, near the lower boundary of its November range.
The hourly chart shows a clear breakdown beneath key moving averages, with a death cross emerging on December’s first trading sessions.
The death cross is formed when the 50‑hour MA drops below the 200‑hour moving average and usually indicates a bearish pullback.
However, in oversold conditions, such a signal can sometimes coincide with a local bottom as well.
The chart below shows that SHIB has repeatedly tested the green demand zone between $0.00000770 and $0.00000785. This region remains the critical support that determines whether SHIB drops further.
Source: TradingView
A brief liquidity sweep into this zone is likely, especially as prices respect the descending trendline. If buyers fail to defend this range, the next leg could trigger acceleration toward deeper support.
However, a break above the descending trendline would open the path toward the first resistance at $0.00000840, where both historical supply and the moving averages converge. Clearing this barrier could lift SHIB toward the mid‑range resistance cluster at $0.00000900.
A possible surge toward the $0.000010 target is also likely, provided prices continue to trade above the green support band.
