• Shiba Inu price witnessed a bearish death cross on the daily time frame on December 13.
  • SHIB trades range bound within a 10% fluctuating zone on the week.
  • The bulls will need to flip the 0.00000932 barrier into support to justify a bullish outlook.

Shiba Inu price could be setting up for a downtrend surge. At the time of writing, the bulls show early signs of failure. If market conditions persist, a sweep-the-lows event will be imminent. 

Shiba Inu price under pressure

Shiba Inu price is witnessing an ongoing consolidation as the notorious meme coin coils within a 10% range on the week. On December 13, a bearish cross was spotted on the daily chart as the  21-day simple moving average treaded over the 8-day exponential moving average while SHIB remained submerged. 

Since the signal, the bulls have been rejected near the $0.00000900 barrier on smaller time frames. Bearish crosses are often referred to as a “death cross” amongst traders as the crossing of the slower moving average into the faster one usually results in sharp liquidations.

Shiba Inu currently trades at $0.00000885. A second retest of the intersected indicators will be unnecessary if the market is genuinely bearish. A piercing of the December 13 low at $0.00000861 could prompt a bear rally targeting the November swing low at $0.00000817 for a 7% decline. If bulls remain sidelined near the November bottom, then SHIB will likely print new yearly lows in the coming weeks.

tm/shib/12/15/22

SHIB/USDT 1-day chart

As mentioned in the previous outlook, a bullish attempt at the December 13 swing high at $0.00000932 is required to consider aiming for higher targets. If the bulls can flip the barrier into support, SHIB could rally as high as the November 10 swing high at $0.00001055. The Shiba Inu price would rise by 19% under the bullish scenario.

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin, Ethereum and XRP defend key support on sixth day of Israel-Iran war, what to expect

Bitcoin, Ethereum and XRP defend key support on sixth day of Israel-Iran war, what to expect

Bitcoin (BTC), Ethereum (ETH), and XRP are holding steady above key support levels. The top three cryptocurrencies have weathered the geopolitical tension and macroeconomic events of the past week. 

Top Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe set to extend losses

Top Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe set to extend losses

Top meme coins extend recent losses on Wednesday, with the segment’s market capitalization standing at $54.41 billion, a decline of over 20% in the past month. Dogecoin (DOGE) and Shiba Inu (SHIB) are down 3% so far this week.

Crypto Today: Bitcoin, Ethereum, XRP weather geopolitical tensions, risk-off sentiment ahead of Fed rate decision 

Crypto Today: Bitcoin, Ethereum, XRP weather geopolitical tensions, risk-off sentiment ahead of Fed rate decision 

The cryptocurrency market is broadly consolidating amid ongoing geopolitical tensions in the Middle East. Bitcoin (BTC) mirrors the lethargic sentiment, trading at around $104,572 at the time of writing on Wednesday.

Stellar and ApeCoin Price Prediction: XLM and APE at risk of further losses as technical weakness grows

Stellar and ApeCoin Price Prediction: XLM and APE at risk of further losses as technical weakness grows

Stellar price closes below its critical support at $0.2537, hinting at a correction ahead. ApeCoin touches the lower boundary of an ascending triangle formation, a breakdown would signal a downtrend.

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP