Shiba Inu, that most enigmatic of cryptocurrencies, has completed a “death cross” on its two-hour chart, as if the very gods of finance had conspired to mock its ambitions. Meanwhile, the broader market, a weary old man with a trembling hand, faces volatility so profound it could make a seasoned trader weep into their coffee.
The crypto world, ever the melodrama, is now a stage for selling pressure, with trade tensions and tariff uncertainties playing the role of the villain. One might say the market is as nervous as a cat in a room full of rocking chairs.
In the last 24 hours, a staggering $485 million has been liquidated, a sum so large it would make a medieval king blush. And yet, the crypto market has shed another $100 billion, as if the universe itself were siphoning wealth from the pockets of the desperate.
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Shiba Inu, that paragon of hope, fell alongside its brethren, as the market danced to the tune of macroeconomic woes and trade headlines. At the time of writing, Shiba Inu was down 1.59% in the last 24 hours, a drop so modest it could be mistaken for a yawn. Weekly losses now stand at 7.41%, a testament to the cruel whims of fortune.
Shiba Inu forms death cross as price tests key support
Shiba Inu, in a fit of dramatic flair, formed a “death cross” on the two-hour chart, as the 50 MA fell below the 200 MA. One might say it was a scene straight out of a Shakespearean tragedy, albeit with fewer soliloquies and more spreadsheets.
This ominous signal appeared as Shiba Inu plunged to a low of $0.00000590, a price so low it made the stars themselves weep. Yet, like a phoenix in a bear market, it rebounded, trading at $0.00000614 at press time.
On the daily chart, Shiba Inu’s decline from Feb. 21 has entered its third day, a slow, agonizing march that mirrors the futility of human endeavors. Analysts, ever the optimists, claim this is due to weak liquidity and low conviction-a fancy way of saying no one believes in anything anymore.
The next resistance targets for Shiba Inu lie at $0.00000733 and $0.00000968, distant hills that seem to mock the efforts of the desperate. Support, meanwhile, lies at $0.00000590, a fragile promise of salvation. The broader crypto market recovery, analysts say, will be watched with the same interest as a soap opera-unpredictable, dramatic, and utterly pointless.
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2026-02-23 18:13