Shiba Inu has confirmed a death cross on the daily chart, with the short-term moving average falling below the longer-term average. The meme coin traded at $0.000005876 in the latest session, down about 1.63% over 24 hours, while slipping under the closely watched $0.0000060 level.
The setup appeared after a brief stretch of stronger gains earlier in the week. That rebound lost traction fast. For many traders, a daily death cross points to fading short-term momentum and raises the risk that the recent recovery is losing support.
Volume Weakens as Market Activity Cools
Trading activity also softened during the pullback. Daily volume fell by roughly 7.04% to about $145.03 million, a sign that participation has thinned as the price moved lower. A weaker volume profile leaves less room for a sharp recovery unless buyers return.
SHIB was not moving in isolation. The broader crypto market came under pressure after Bitcoin reversed its recent upside move, and the shift in market tone pushed traders to cut exposure to higher-risk assets.
Exchange Inflows Top 112 Billion SHIB in 48 Hours
Blockchain tracking also showed more than 112 billion SHIB transferred to cryptocurrency exchanges over the last 48 hours. Large inflows to trading platforms often draw attention because they can come before selling activity, especially during a period of fading momentum.
Even so, the market has not shown an extreme spike in liquidation pressure so far. The transfer data has clearly sharpened focus on near-term supply, but price action has not yet confirmed a full wave of aggressive selling.
$0.0000060 Turns Into the Key Near-Term Level
The next move now depends heavily on whether SHIB can regain and hold $0.0000060. That level has become the main line traders are watching as they assess whether the gains built earlier in the week can still survive the current pullback.
If SHIB fails to reclaim it, the recent rebound could keep weakening. If buying interest returns and stabilizes price above that mark, the decline may slow. For now, the chart, the lower volume, and the exchange inflows all point to a market that has turned more cautious over the next few sessions.