SHIB Price Analysis: A Death Cross Formation

As per CoinMarketCap , SHIB now trades below $0.000008, near the lower boundary of its November range.

The hourly chart shows a clear breakdown beneath key moving averages, with a death cross emerging on December’s first trading sessions.

The death cross is formed when the 50‑hour MA drops below the 200‑hour moving average and usually indicates a bearish pullback.

However, in oversold conditions, such a signal can sometimes coincide with a local bottom as well.

The chart below shows that SHIB has repeatedly tested the green demand zone between $0.00000770 and $0.00000785. This region remains the critical support that determines whether SHIB drops further.

Source: TradingView

A brief liquidity sweep into this zone is likely, especially a

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