$SHIB facing increased pressure after the most recent market correction, and the death cross paints a grim picture for the meme asset
investors, as it indicates that the asset's price could continue to decline in the near future. Currently, Shiba Inu is trading at a price level of $0.00001, which is the lowest it has been in 40 days.
The downward trend of SHIB can be attributed to a number of factors. Firstly, the broader cryptocurrency market has experienced a downturn in recent weeks, with many assets losing significant value. Additionally, the hype surrounding meme coins seems to be fading, leading to a decrease in demand for SHIB.Despite the bearish outlook for SHIB, some analysts believe that the asset could rebound in the coming months.
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