Shiba Inu Sell-Off Surges: Potential Further Losses as Support Levels Break

• SHIB’s selling activity spike: Over 1 billion tokens dumped, breaking support at $0.000010.

• Bearish trends and increased volume indicate market capitulation amid weakened bullish momentum.

• RSI at 34.47 suggests oversold territory, while a death cross formation warns of prolonged downside risks.

Shiba Inu sell-off surges with 1B+ tokens sold, price drops below $0.000010. Explore risks of further losses and key support levels. Stay informed on SHIB’s market trends—read now for expert insights.

What is Causing the Recent Shiba Inu Sell-Off?

Shiba Inu sell-off stems from a sharp increase in exchange selling, with approximately 1 billion SHIB tokens offloaded in the past 24 hours. This has led to a significant price drop, breaching critical support at $0.000010 and approaching $0.000009. The surge aligns with broader bearish sentiment in the cryptocurrency market, eroding previous bullish gains.

How Is the Death Cross Impacting SHIB’s Price?

The death cross, where the 50-day moving average crosses below the 200-day moving average, has formed on SHIB’s chart, signaling a potential extended bear market. This technical indicator often precedes prolonged price declines, as seen in historical data from platforms like TradingView. According to market analysts, such patterns increase the likelihood of downward pressure by at least 20-30% in the following weeks, based on past crypto trends. The Relative Strength Index (RSI) currently stands at 34.47, indicating oversold conditions that could amplify volatility if selling persists. Expert observers note that without fresh buying interest, SHIB may test lower supports, emphasizing the need for caution among holders.

• SHIB’s selling activity spike
• More losses imminent?

With around 1,000,000,000 SHIB being sold on exchanges in the last 24 hours, Shiba Inu is certainly in a significant sell-off phase. The price has dropped significantly as a result of this enormous selling volume, as the most recent chart breakdown illustrates. 

SHIB’s selling activity spike

The current bearish trend and the abrupt increase in selling activity raise grave doubts about SHIB’s near future. As of press time, the price has broken through significant support levels and fallen below the $0.000010 mark. The most recent sell-off has coincided with an increase in volume, which is frequently a crucial sign of capitulation.

SHIB/USDT Chart by TradingView

The coin’s minimal bullish momentum has been destroyed by this wave of panic selling, pushing the price closer to the $0.000009 threshold. Although it is unclear when the market will reach its bottom, the asset is getting close to oversold conditions, as indicated by the RSI (Relative Strength Index), currently at 34.47.

More losses imminent?

The death cross formation, in which the 50-day moving average crosses below the 200-day moving average, might negatively affect SHIB’s price performance in upcoming weeks. This technical pattern, which suggests that the path of least resistance is downward, is usually linked to protracted bear markets.

The $0.000009 level is now critical because a breakdown below it could lead to additional losses and possibly push SHIB to even lower levels. Investors should prepare for potential prolonged downside action in the near future because there is no obvious support until much lower prices.

Shiba Inu may experience a period of low liquidity and increased volatility as selling picks up speed and weak hands keep leaving, making any recovery difficult. Until substantial buying volume reenters the market, investors should exercise caution and be ready for a potentially deeper price decline.

Frequently Asked Questions

What Triggers a Shiba Inu Sell-Off Like This One?

A Shiba Inu sell-off, such as the current one involving over 1 billion tokens, is typically triggered by panic selling amid broader market downturns. High exchange volumes reflect investor capitulation, exacerbated by technical breakdowns like support level breaches at $0.000010, leading to rapid price erosion in under 24 hours.

Will SHIB Recover from the Current Selling Pressure?

Recovery from SHIB’s selling pressure depends on renewed buying interest to counter the bearish momentum. With RSI at 34.47 signaling oversold conditions, a rebound could occur if volume shifts, but the death cross suggests ongoing risks; monitor for support at $0.000009 before expecting stabilization.

Key Takeaways

• Intense Selling Volume: Over 1 billion SHIB sold in 24 hours has shattered support, highlighting market capitulation.
• Technical Warnings: Death cross and low RSI indicate potential for extended declines without intervention.
• Investor Caution: Prepare for volatility and lower liquidity; watch $0.000009 as a pivotal level for future moves.

Conclusion

The ongoing Shiba Inu sell-off underscores the volatility inherent in meme coins like SHIB, with massive selling activity and technical indicators like the death cross pointing to further price pressures. As the market navigates these challenges, staying informed on Shiba Inu sell-off dynamics will be crucial for investors. Looking ahead, a reversal may hinge on broader crypto recovery—consider monitoring key levels for timely decisions.