Shiba Inu prices have fallen to a worrying low after sellers sold over one billion SHIB tokens. The massive wave has broken through the $0.000010 level and pushed them down towards $0.000009. The sell-off that’s unfolding has triggered extreme market volatility, with the RSI dropping to 34.47—which signals oversold conditions that could mean either capitulation or maybe even a reversal. The price is currently testing key support levels. A death cross pattern has appeared on charts, warning that further downward pressure may be coming as investors become increasingly uncertain about the exact bottom of the Shiba Inu.
You may also like: Shiba Inu Eyes Breakout as T. Rowe Price Lists SHIB in ETF Filing
The Shiba Inu price drop causes volatility amid warnings of sell-off and support
Massive Token Dump Breaks Key Support
Shiba Inu tokens were sold at alarmingly high levels. In just 24 hours, sellers had sold approximately 1 billion SHIBs. The selling pressure from this period actually broke the crucial $0.000010 level of support that was holding and prices are now hovering around $0.000009. The price drop happened rapidly—panic selling pushed the token through support in under 24 hours as fear took hold across the market.
The data on the exchanges shows that these selling activities are much higher than average daily activity, which indicates that those who have accumulated in previous rallies now want to sell their positions. Shiba Inu market volatility has erased all bullish gains.
Shiba Inu Team Member at the Time of Writing Lucie Market turmoil addressed
Not only crypto – everything is red. After so many failures, I no longer rely on experts or books. Now, my mindset is very simple. Either I win or I’m going to zero. This outcome was not predicted by anyone.
Shiba Inu’s Death Cross Shows Their Extended Weakness
A death cross has formed on Shiba Inu’s chart, and this is where the 50-day moving average crosses below the 200-day moving average—traders traditionally see this as a bearish signal that often precedes prolonged downtrends. This formation, according to historical data can cause assets to drop an extra 20-30% over the next few weeks.
SHIB is currently in an oversold condition, as confirmed by the RSI value of 34.47. The selloff could be exhausted if this continues. Even though oversold situations can persist, they are not always irreversible, especially if there’s no catalyst for change. Support levels at $0.000009 are vulnerable to further testing by sellers if there are no new buyers on the market.
Shiba Inu Moves are Determined by Shiba Inu’s Critical Level
Shiba Inu’s direction in the near term is determined by $0.000009. As weak hands exit positions, the volatility has depleted order books of liquidity. Death cross and low RSI suggest that downward pressure could continue on Shiba Inu without significant buying volume entering the market any time soon.
You may also like: The Highest Shiba Inu Price Can Ever Reach Per AI Algorithms
Shiba inu’s future is uncertain at the moment due to the technical breakdown combined with massive sales volume. Investors should continue to watch support levels, because a holding at $0.000009 may stabilize the token. However, a breaking below this level could signal that the price decline could continue.
The market is now void of liquidity, which creates an environment where modest selling will have a dramatic impact on prices. In the short term, Shiba Inu prices are headed down. Without new buyers to support them, sellers will resist any attempt to recover.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
