SHIB Golden Cross Breakout Fails as Selling Pressure Mounts
Shiba Inu (SHIB)
Editor:
Eugene Serbin
u.today reports that Shiba Inu (SHIB) formed a rare Golden Cross on its daily chart, where the 50-day moving average crossed above the 200-day moving average, a signal not seen since November 2024. This bullish technical breakout immediately encountered heavy selling pressure during a broader market sell-off, leading to a sharp price reversal. SHIB initially bounced from a low of $0.00000550 but subsequently fell 5.72% in 24 hours to $0.00000545.
The token is currently testing the psychologically important $0.00000550 support zone where key moving averages converge. The Relative Strength Index (RSI) has retreated to a neutral 45.30, indicating that buyers' initial momentum is fading. Derivatives market turbulence exacerbated the situation, triggering a cascade of forced liquidations that wiped out over $634 million in trader positions.
Long positions bore the brunt of this liquidation event, losing $572.36 million compared to just $61.91 million for shorts. This mass margin call deprived SHIB of the liquidity needed to sustain its move, reviving concerns about false breakouts similar to the bull trap seen in August 2025. If buyers lose the fight below $0.00000530, the asset risks invalidating the Golden Cross and resuming its downward channel toward $0.00000450. Despite these technical struggles, long-term expectations remain buoyed by ecosystem plans, including the integration of SHIB into the Solana blockchain.
How the market reacted
Whalio's own Binance spot order flow for SHIB, measured when this story was written up on 7 October 2026. Not the outlet's figures.
Whalio's spot data for SHIB shows a price of $0.000005790 with a 1-hour buy ratio of 36.5% and a 4-hour buy ratio of 44.0%, both below the 24-hour buy ratio of 50.1%. This divergence suggests that buying pressure is currently fading in the shorter timeframes compared to the daily average. The 1-hour volume delta is negative at -$138,760, and the 4-hour delta is -$104,978, indicating that selling volume has exceeded buying volume in the immediate and medium-term recent history. However, the 24-hour volume delta is slightly positive at +$7,151, showing that net buying has occurred over the full day. The Cumulative Volume Delta (CVD) for the 24-hour close is -$622,393, reflecting that overall selling pressure has outweighed buying pressure throughout the day. Spot volume for the period was $3,704,207 across 18,376 trades, with net buying occurring in only 10 of the 24 hours.
The latest daily buy ratio of 45.6% sits at the 11th percentile of the last 322 days, against a median of 48.8% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for SHIB, averaged over the days leading up to the story.
Over the preceding week, SHIB had a 7-day average buy ratio of 50.8%, which is slightly higher than the current 24-hour ratio of 50.1%, indicating a marginal decrease in buying interest. Volume over the last day was 0.74x the weekly average, showing that trading activity has slowed down relative to the recent norm. The coin experienced a price change of +0.5% over the eight-day period, with a total volume delta of -$143,023. This suggests that while the price remained stable, the underlying flow has been net negative over the longer timeframe. Compared to the weekly average, today's volume is lower, marking this as a relatively quiet day for the asset.