Shiba Inu has been struggling a bit lately. A death cross appeared on the weekly chart for the first time this year - the 50-week moving average broke below the 200-week moving average in early November, which usually indicates that short positions are in control. Against the backdrop of an overall weak market, SHIB has continued to decline since the big dump in October, reaching a stage low of $0.00000815.

Currently, the SHIB price is hovering around $0.000007147, with a weekly decline of 10.47%. The situation is indeed not very optimistic. Many analysts point out that in order to achieve a stable rebound, it is necessary to firmly hold above the key resistance level of $0.00001277. Once a positive catalyst appears in the market, the potential upward space may point to $0.00003344. But the key is to wait for that catalyst to truly emerge.