Recently, Shiba Inu (SHIB), the popular meme coin, bumped into a technical hurdle it just couldn’t clear, despite some initial efforts to push through. If you look at the four-hour chart, you’ll notice the 23-period moving average dipping below the 50-period one—this created what’s known as a local death cross, and the price responded in kind. Following this crossover, SHIB experienced a slight dip of 2.65%, struggling to break free from this short-term pattern.

Now, let’s be clear, this crossover isn’t necessarily a huge deal all by itself. It’s actually a pretty standard pattern that often pops up when prices are trading sideways or during fading trends. However, what made this instance interesting is that SHIB’s price was already hanging around a resistance level, and this rejection at the moving average simply reinforced that area of resistance.

Shiba Inu tested the $0.00001194 level—that’s where those moving averages were hanging out together—but it couldn’t quite hold its ground. The price was last seen hovering around $0.0000118.

So, what could happen next? Well, a couple of paths are possible. One is a potential rebound where SHIB reclaims those short-term moving averages, then consolidates and starts climbing towards the next target around $0.000012. The other scenario, which looks a bit more likely right now, is a continued drift downwards to the support level at $0.00001107. This level has been tested before, and we might see buyers step in again there.

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This little setback locally doesn’t really change the broader outlook for SHIB though. The 200-period SMA is still sitting higher at $0.00001252, and the overall market structure hasn’t really made any big moves in a clear direction. Actually, what we’re observing is pretty much a standard rejection in the middle of a trading range within a market that’s consolidating.

We’re not seeing any huge volume spikes, no major breakouts, and definitely no signs of panic selling. Just a straightforward death cross that’s been met with some short-term selling pressure.

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Whether this situation develops into a larger trend or just stays as part of the usual day-to-day price swings is what the next few trading sessions will reveal. For the time being, Shiba Inu is still caught in between those moving averages—technically, it’s in a neutral position, perhaps with a slight bearish inclination.