Shiba Inu (SHIB) Faces Technical Pressure as 'Double Death Cross' Emerges

Shiba Inu (SHIB) continues to face mounting technical pressure following the emergence of a 'double death cross' signal, which has dampened recovery hopes. Market conditions have weakened further with a 6% drop in Open Interest, reflecting a negative trend in futures and derivatives market activity. This quantitative decline is compounded by on-chain data showing a major whale depositing 240 billion tokens into Coinbase, signaling significant potential selling pressure. These bearish indicators have overshadowed a previous 76% surge in netflows that initially suggested price stabilization. Furthermore, internal ecosystem tensions sparked by controversial posts from lead developer Shytoshi Kusama continue to weigh on investor sentiment. Analysts suggest that the convergence of technical breakdowns and declining market participation points toward a period of heightened volatility for the $3.54 billion market cap asset.