Shiba Inu Hits Hourly Death Cross, Delays Erasing Zero

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Dog cryptocurrency Shiba Inu (SHIB) is trading in red as major cryptocurrencies fell amid broader risk-off sentiment at the start of December. Advertisement Shiba Inu fell to an intraday low of $0.00000789, extending its slide into the fourth day since Nov. 27, and was last seen around $0.00000796, down 7.23% in the last 24 hours. Shiba Inu had attempted a rebound toward November's close, reaching a high of $0.00000913 on Nov. 28, spurring expectations of removing a zero from its price tag. HOT Stories Morning Crypto Report: XRP Rockets 324% in Weekly ETF Inflows, Strategy CEO Reveals Why They May Sell Bitcoin, Shiba Inu (SHIB) in December: What to Expect Ripple Wins Major License Boost in Singapore XRP Sees 1,447% Liquidation Imbalance, Shiba Inu Joins Japan's Green List, Saylor’s Strategy Having Second-Worst Month Since Buying Bitcoin — Top Weekly Crypto News Crypto Market Prediction: Shiba Inu (SHIB) Ends It Here, Bitcoin (BTC) Price Reaches Key $90,954 Moment, Will XRP Fall Under Mini-Death Cross? However, a forced unwinding of the crypto market is pulling the SHIB price back to the lower end of November’s range, now trading below $0.000008, pausing bulls' attempt to erase a zero from Shiba Inu's price. Advertisement In the last 24 hours, nearly $637 million in leveraged positions were wiped out across major exchanges, extending losses on major cryptocurrencies. Thin liquidity and ongoing macro uncertainty have contributed to the recent sell-off on the market. Shiba Inu completes hourly death cross Amid the recent drop in the market, a death cross pattern, which occurs when a short-term moving average falls below the long term MA, has just appeared on the hourly chart. SHIB/USD Daily Chart, Courtesy: TradingView An hourly death cross appearing on Shiba Inu 's price chart on the first day of December might not portray positive indications for its short-term price action, but hopes remain. In a positive twist, a death cross might foreshadow a bottom as the price might have been oversold before the signal appeared. The year 2025 has seen lackluster action for the SHIB price as it steadily declined upon reaching a high of $0.00003324 in December 2024. Shiba Inu only closed in the green in just two months this year, in April and July, when it recorded gains of 6.87% and 9.02%, respectively. However, hopes remain as technical and historical trends suggest that Shiba Inu saw a sudden sharp rally after a prolonged period of decline, March 2024 for instance, when SHIB rallied 144%. In the event of a rebound, Shiba Inu would target $0.00000943 ahead of $0.0000012, which would erase a zero from its price, while support is expected in the $0.000006 to $0.000007 range if the price declines further. #Shiba Inu (SHIB) News #SHIB