Shiba Inu Falls Despite Golden Cross Formation, Technical Support in Sight

Shiba Inu (SHIB) is facing pressure despite a recent golden cross, a bullish technical indicator. The token has dropped over 5% despite the crossover of the 23-day and 200-day moving averages. The decline comes after a short rise to $0.000014 before hitting a resistance point and dropping. SHIB is trading near $0.00001296, with technical support at $0.00001274. The overall situation with meme coins is uncertain, with market participants keeping a close eye on trading volume, trend validation, and risk appetite.