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A new bearish signal flashes for Shiba Inu, but here’s when the meme coin could finally bottom and start a much-needed price uptrend.
Shiba Inu flashed a bearish signal on the second day of December, recent price analysis confirmed. Specifically, a bearish cross occurred on the 4-hour timeframe, as the 50-period simple moving average (SMA) moved above the 23-period SMA, signaling another bearish bias for the meme coin.
More Shiba Inu Correction?
Shiba Inu has been well within bearish territory for the greater part of this year. Notably, it has dropped 58% since the start of the year and 73.6% from its December 2024 high of $0.00003343.
Despite its 5.3% bounce since December 1, SHIB has recorded four consecutive red monthly candlesticks and six bearish candles of the last seven months, reinforcing the strong bearish momentum.
The recent bearish cross further adds to skepticism around the asset’s near-term price trend. The token has already retraced 7% from its high of $0.00000952 on December 3 to its current market price of $0.00000881 and could go lower according to indications from the bearish cross.
How Low Can SHIB Go?
Notably, if bearish trends persist, Shiba Inu could drop further. How low? A recent analysis shows it could retest the support at $0.00000680. The level aligns with its October 10 low on Binance, representing a 22.8% drop from the current market price.
An outlook from MMBTrader also supports this target. He highlighted the $0.0000060 support as a crucial weekly support for Shiba Inu, asserting it will rebound by 1,188% from the low to $0.0000773 if it holds.
However, retracing to this support depends on the broader market trend. If Bitcoin regains bullish momentum and surges higher, SHIB will likely follow suit.
When to Expect a Shiba Inu Rebound
According to prediction firm CoinCodex, Shiba Inu’s downtrend would not exceed this year. The platform predicted that Shiba Inu would trade at $0.00001029 by January 3, 2026, a 16.8% growth in one month.
CoinCodex expects this recovery to be gradual, setting a year-end target of $0.000009992 before removing one zero from its price by next year. Meanwhile, Changelly data shares a similar outlook, predicting an average price of $0.0000101 by January 2026.