๐จShiba Inu Price at Risk? "Death Cross" Signals Possible Drop! ๐ถ๐
The beloved meme coin $SHIB is currently facing serious technical pressure as key indicators flash bearish warnings:
๐ป MVRV "Death Cross" Alert!
The 30-day MVRV has plunged to -132%, falling below the 365-day average โ a sign that recent investors are deep in the red and market sentiment is weakening.
๐ Head & Shoulders Pattern Detected
Chart patterns hint at a 14% potential drop, putting the next critical support near $0.0000097 ๐
๐ง What This Means:
๐ปA break below support could accelerate selling.
๐ปShort-term sentiment = bearish, especially if volumes spike.
๐ปLong-term holders may still find this a DCA opportunity, but caution is advised.
๐ SHIB Market Outlook:
โ Short-Term: Bearish bias ๐
๐ Mid-Term: Watching for reversal signs
๐ Long-Term: Depends on broader meme coin sentiment + network adoption
๐ก DYOR: Always assess the risk-reward ratio. Meme coins can move fast... in both directions.
