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SHIB SHIB triggered a rare "double dead fork" on the hourly chart and two-hour chart.
With three consecutive days of decline, the price of SHIB fell below the 50-day moving average. Concerns about the Federal Reserve's interest rate have exacerbated the pressure on the entire cryptocurrency market. Traders in Shiba Inu had entered October with new optimism as the long-awaited "golden cross" appeared on the daily chart. Many expect this to bring stronger upward momentum and may continue to move higher. However, recent price movements have given different results.
SHIB has fallen for several consecutive days, falling below an important support area and triggering a rare "double dead fork" in a short time frame. These signals have raised new questions in the market about the direction of recent trends.
Double dead crosses show increasing weakness
Data shows that SHIB has bearish cross signals on both the hourly chart and the two-hour chart. In both cases, the 50-cycle moving average crosses the 200-cycle moving average. Technical analysts call this form a "dead fork". Many traders view the dead fork as a warning signal, a pattern that usually reflects weakening upward momentum and increased selling pressure. While short-term signals do not always predict major downturns, simultaneous crossings over multiple time frames often attract market attention. The timing surprised many market participants.
October has traditionally been regarded as a month with a positive reputation by cryptocurrency traders, and this background has further raised expectations for a stronger rebound in SHIB. However, the latest bearish development contrasts with previous more encouraging signals earlier this month. Shiba Inu recorded a "golden cross" at the daily level for the first time since November 2024, when the 50-day moving average crossed the 200-day moving average. Similar signals in November 2024 drove strong gains before SHIB climbed to $0.0000334 in December. But this time, the market environment gave different results. Tokens have not accumulated upward momentum, but are facing increasing downward pressure.
Prices fell below key technical levels
As of the time of report, SHIB was trading at approximately US$0.00005405, down 1.36% in the past 24 hours. Selling pressure extended a three-day decline that began after hitting a local high of $0.00006018 on October 5. Another concern is that prices fell below the 50-day moving average near $0.0000544. Traders often view this level as an important support area. With prices currently below that mark, market focus has shifted to a 200-day moving average of approximately $0.0000523.
若能成功守住该水平，有助于稳定市场情绪；若跌破该区域，则可能加剧看跌压力并引发进一步的抛售活动。更广泛的市场状况也对弱势局面有所贡献。在美联储会议纪要发布后，加密货币价格普遍走低。政策制定者暗示年底前可能再次加息，持续的通胀仍是官员们的主要关切。这种宏观经济不确定性降低了数字资产的风险偏好。因此，Shiba Inu目前正面临技术和外部双重挑战。在市场寻找方向的过程中，交易员可能会密切关注支撑位的表现。
