Shiba Inu Slips as Bearish Chart Pattern Emerges
Shiba Inu's four-hour chart formed a death cross, with its 50-period moving average falling below the 200-period average. The token dropped below $0.000005 after three days of losses, trading around $0.000005015 and down 6.66% over the week. Hotter-than-expected U.S. inflation data reduced risk appetite, and traders are watching whether SHIB could test $0.000004.
Shiba Inu’s four-hour setup turned technically weak in October when its 50-period average moved under the 200-period average. The token had fallen for three straight sessions and was recently quoted near $0.000005015, around the $0.000005 mark. It was down 3.88% in a day and 6.66% over a week.
The move followed U.S. inflation data: consumer prices rose 0.6% monthly, with annual inflation at 3.7%. After September’s first Fed hike in more than three years, to 3.75%–4%, markets expected no October change but anticipated a possible December increase. SHIB is an Ethereum-based meme coin with a wide holder base.
SHIB’s slide may weigh on retail holders and meme-coin communities, many of whom track short-term charts and social sentiment. A drop toward $0.000004 could prompt some to cut losses or delay purchases, while a rebound above $0.000005 might restore confidence. Because crypto remains volatile, these moves could also influence broader risk appetite among smaller investors, though effects on society at large are likely limited.