- SHIB triggered rare double death crosses on hourly and two-hour charts.
- Price fell below the 50-day moving average after three consecutive declines.
- Federal Reserve rate concerns added pressure across the broader crypto market.
Shiba Inu traders entered October with fresh optimism after a long-awaited golden cross appeared on the daily chart. Many expected stronger momentum and a possible continuation higher. Instead, recent price action has delivered a different outcome. SHIB has moved lower for several days, slipped beneath an important support area, and triggered a rare double death cross across shorter timeframes. Those signals have raised new questions about near-term market direction.
Double Death Cross Signals Growing Weakness
Recent TradingView data shows bearish crossover signals on both the hourly and two-hour charts. In each case, the 50-period moving average dropped below the 200-period moving average. Technical analysts call this pattern a death cross. Many traders view a death cross as a warning sign. The pattern often reflects fading momentum and growing selling pressure. While short-term signals do not always predict major declines, simultaneous crossovers on multiple timeframes usually attract attention. The timing has surprised many market participants. October has traditionally carried a positive reputation among cryptocurrency traders. That backdrop made expectations for a stronger SHIB recovery even higher.
The latest bearish development also follows a more encouraging signal seen earlier this month. Shiba Inu recorded a daily golden cross for the first time since November 2024. That event occurred when the 50-day moving average climbed above the 200-day moving average. A similar signal during November 2024 produced strong gains. SHIB later climbed to $0.0000334 in December. This time, however, market conditions have delivered a different result. Rather than building momentum, the token has faced increasing downward pressure.
Price Drops Below Key Technical Level
SHIB traded near $0.000005405 at the time of reporting. The token lost 1.36% over the previous 24 hours. Selling pressure extended a three-day decline that began after a local peak of $0.000006018 on October 5. Another concern involves the break below the 50-day moving average near $0.00000544. Traders often monitor this level as an important support area. With price now below that mark, attention has shifted toward the 200-day moving average around $0.00000523.
A successful defense of that level could help stabilize market sentiment. A breakdown below that area could increase bearish pressure and invite further selling activity. Broader market conditions have also contributed to weakness. Cryptocurrency prices moved lower after the release of Federal Reserve meeting minutes.
Policymakers indicated another interest rate increase may arrive before year-end. Persistent inflation remains a major concern for officials. That macroeconomic uncertainty has reduced risk appetite across digital assets. As a result, Shiba Inu now faces both technical and external challenges. Traders will likely watch support levels closely as the market searches for direction.
