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The death cross for Shiba Inu has formed on a 4-hour timeframe with a bearish crossover signal for the simple moving average.
The price of Shiba Inu has decreased by 58% since the beginning of the year, and by 73.6% from its highest level in December 2024 at $0.00003343.
Analysts expect a retest of the support level of $0.00000680 before a potential recovery begins.
Shiba Inu showed a bearish signal on December 2, forming a negative crossover on the four-hour timeframe. The 50-period simple moving average crossed below the 23-period simple moving average, resulting in another bearish signal for the meme coin.
Shiba Inu has remained in a bearish zone for most of 2025. The currency has decreased by 58% since the beginning of the year and has dropped by 73.6% from its peak in December 2024 at $0.00003343. Despite a 5.3% rise since December 1, the currency recorded four consecutive monthly red candles.
The price has decreased by 7% from its recent high
The recent crossover reinforces doubts surrounding the near-term price direction. Shiba Inu has already dropped by 7% from its peak on December 3 at $0.00000952 to the current market price of $0.00000842. The bearish crossover indicates a potential further decline in the currency in the upcoming sessions.
Six of the last seven months closed with bearish candles, reinforcing bearish price momentum. If the downward trends continue, Shiba Inu could drop to the support level at $0.00000680. This level aligns with the lowest recorded on October 10 on the Binance platform, representing a 22.8% decline from current levels.
MMBTrader analyst identified the important weekly support level for Shiba Inu at $0.0000060. The analyst stated that the currency would rise by 1,188% from this low level to $0.0000773 if the support level holds. However, reaching this support depends on the broader cryptocurrency market trend. If Bitcoin regains its bullish momentum and rises, Shiba Inu is likely to follow the same path.
CoinCodex forecasts that Shiba Inu's bearish trend will not continue after this year. The platform predicted that Shiba Inu will be trading at $0.00001029 by January 3, 2026, representing a 16.8% increase over the current price levels.
CoinCodex expects the recovery to be gradual, setting a year-end target of $0.000009992 before the currency loses one zero from its price next year. Changelly's data shares similar forecasts, predicting an average price of $0.0000101 by January 2026.$SHIB
