Shiba Inu Double Death Cross Completed Amid 5% Jump: Could This Be Bear Trap?
Analysis
Price Impact
MedThe completion of a double death cross on short-term charts (1-hour, 2-hour, 3-hour) typically suggests bearish sentiment. however, this is counteracted by a recent 5% price jump and a bullish dragonfly doji candlestick pattern on the daily chart, indicating potential short-term buying pressure and a possible bear trap.
Trustworthiness
MedPrice Direction
NeutralThe technical death cross signals suggest a bearish outlook, but the recent price surge and bullish candlestick pattern point towards a potential short-term bullish reversal. the market is currently in a state of conflict between these signals, making the immediate price direction uncertain.
Time Effect
ShortThe death cross signals are on short-term charts, and the recent price action and the concept of a 'bear trap' are typically short-term phenomena. the longer-term sentiment is still influenced by the broader market's 'extreme fear'.
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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. Shiba Inu completed death cross signals on its short-term charts; notably, these were on the one-hour, two-hour and three-hour charts. The 50 MA across these price charts crossed below the 200 MA, indicating a death cross. Advertisement However, a surprising setup occurred on the market as prices rose across the board, including that of Shiba Inu. The broader crypto market reversed into the green as investors considered positive macro headlines. SHIB/USD 3-Hour Chart, Courtesy: TradingView About $325 million in crypto positions were liquidated on the crypto market, of which the majority were shorts. HOT Stories Bitcoin Surges Past $69K, $196M Worth of Shorts Liquidated XRP in Near-Zero Territory, Triple Bitcoin (BTC) Resistance Ahead, Cardano (ADA) Needs Shocking Capital Injection: Crypto Market Review You Might Also Like Sat, 04/04/2026 - 12:55 Shiba Inu Trend Turns Uncertain After Quick Golden to Death Cross Shift By Tomiwabold Olajide Advertisement A total of $274 million of bearish bets, or short positions, were unwound for cryptocurrencies in the last 24 hours, according to CoinGlass data . Long liquidations only came in at $51 million. Shiba Inu bear trap? At the time of writing, Shiba Inu was up nearly 5% in the last 24 hours to $0.000006053. Many shorts were initiated in the market over the weekend, with the holidays adding to the volatility amid low liquidity. When the markets opened today, the switching of shorts and the covering of some positions caused a squeeze higher in illiquid conditions. Advertisement You Might Also Like Wed, 04/01/2026 - 15:22 Shiba Inu at Key Price Juncture as Bollinger Bands Tighten By Godfrey Benjamin Shiba Inu consequently saw significant price surges on its short-term time frames, contrary to the death cross signals, as buying pressure increased. Following a dragonfly doji candlestick on the daily chart, the Shiba Inu price went higher. A dragonfly doji is a bullish reversal candlestick pattern, often seen at the bottom of a downtrend, signaling potential upward price movement. In this light, Shiba Inu rose higher above the daily MA 50 to $0.0000059, reaching an intraday high of $0.0000061. For weeks, the crypto market has been unable to shake consistent downward pressure since a sell-off in October. The Fear and Greed Index sits at 9, deep in extreme fear territory, where it has stayed between 8 and 14 for over a month, indicating that caution still remains on the market. #Shiba Inu (SHIB) News