Shiba Inu Faces Short-Term Pressure as Hourly Death Cross Forms

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Feb 20

Shiba Inu has completed a "death cross" on its hourly chart as the 50 hourly MA has fallen below the 200 hourly MA following a crossover.This technical signal coincided with a price drop since the ...

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Shiba Inu rose for three straight days in the past week, reaching a high of $0.00000724 on Feb. 14, beyond which it could not go further.The Shiba Inu price began to decline on Sunday, with bears pausing its drop on Monday. Selling began afterward, with Shiba Inu falling to a low of $0.00000612 on Feb. 19.SHIB/USD Hourly Chart, Image By: TradingView At the time of writing, SHIB was down 0.83% in the last 24 hours to $0.000006201. A doji on the daily chart indicates indecision between buyers and sellers, as traders anticipate what comes next on the markets.Investors are awaiting key economic data on Friday, including the Federal Reserve’s preferred inflation measure, the personal consumption expenditures index and gross domestic product report for the fourth quarter, at 8:30 a.m. ET.Immediate resistance targets for Shiba Inu are at $0.0000072 and $0.0000074, while support is expected at $0.00000575 and $0.000005 in the event of a drop.February deadline issued for Shiba Inu communityA February deadline has emerged for the Shiba Inu community as K9 Finance puts plans in place for its sunset.In a recent tweet, K9 Finance tells users to withdraw all assets from Bonecrusher before the sunset date of Feb. 25, 2026. For users experiencing an issue with knBONE being detected, that issue should be resolved.Earlier in February, K9 issued a Sunset Notice saying it is entering a formal sunset phase following DAO governance. The foundation is discontinuing involvement and the DAO will operate independently, if at all.Following a governance process conducted by the decentralized autonomous organization (DAO) associated with K9, it was voted that K9, in its current form, structure and operational model, will cease. The existing foundation-based model supporting K9 will be discontinued, and the decentralized autonomous organization may continue, if at all, solely as an independent and unaffiliated DAO.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}