The recent drop in Shiba Inu's price by over 20% is attributed to the emergence of a 'death cross' on its charts, which may affect investor sentiment.
Formation of the 'Death Cross'
Shiba Inu has succumbed to a bearish trend as the 50-day moving average fell below the 200-day average. This technical pattern often signals further price declines.
Lack of Comments from Developers
In recent weeks, there have been no statements from Ryoshi or Shytoshi Kusama, despite the entrenched market weakness. 'As of June 21, 2025, there are no official statements on Twitter or blogs regarding the death cross or recent price action,' noted Shytoshi Kusama.
Market Impact and Future Prospects
SHIB is trading near $0.0000115, influenced by macroeconomic pressures beyond the cryptocurrency's direct control. Broader market conditions and lack of institutional changes emphasize the technical downturn.
Potential outcomes remain uncertain, with historical data suggesting extended declines. SHIB's bearish sentiment continues, and investors may face ongoing challenges navigating this complicated market phase.
