Shiba Inu's Price Rollercoaster: Bulls and Bears Battle for Control

Shiba Inu, the popular cryptocurrency, is currently facing a challenging phase as the broader crypto market experiences declines. Traders are uncertain about the extent of the price drop, with some speculating that it could be a temporary dip, while others fear a more significant crash. The selling pressure on Shiba Inu (SHIB) is intensifying, putting the cryptocurrency at a critical juncture. Will SHIB bounce back or continue to fall?

On February 27, 2025, SHIB's price movement was characterized by a sideways trend within a specific range. The day started with an upward trend, with the price finding support at $0.00001422, allowing bulls to take control. A golden cross on the MACD line at 1:15 UTC further boosted the price, pushing it higher. However, at 7:50 UTC, a death cross on the MACD line signaled a potential reversal, leading to some fluctuations in the price.

Despite the reversal, the price quickly regained strength and reached its resistance level of $0.00001486 at 10:00 UTC. A death cross at 11:20 UTC marked the beginning of a downward trend, and the price entered a downward channel. An oversold situation at 15:00 UTC triggered further declines, and the price continued to fluctuate within a trading range, displaying weakness. Later in the day, another oversold scenario at 20:30 UTC led to a brief dip below the support level. However, a golden cross at 21:10 UTC helped the price bounce back into the trading range, stabilizing its price by the end of the day.

On February 28, 2025, SHIB started a downward trend, with selling pressure growing as the MACD line showed a death cross at 00:10 UTC, sending the price lower. An oversold situation at 1:30 UTC caused a temporary price surge, but the price continued in a downward channel. The RSI indicator reached oversold levels at 2:40 and 4:00 UTC, confirming the strong selling pressure. Around 4:35 UTC, a golden cross appeared on the MACD line, indicating a possible reversal, but the recovery was slow, and prices remained