Shiba Inu (SHIB) continues to face headwinds as technical indicators show a potential for further price decline. Recent data reveals the 23-day moving average has crossed below the 200-day one, triggering a 7% drop in price and adding to the prevailing bearish sentiment within the meme coin market. A second death cross is on the horizon: the 50-period moving average is poised to break through the 200-period line, further amplifying potential for a downturn. This upcoming 50/200 death cross has significant implications for traders. A similar scenario in April led to a sharp 18% drop over six days, highlighting the market’s susceptibility to such technical signals. SHIB is currently trading at around 0.00001330 – a decline from the 0.00001440 range just a few days ago. The price action has been suppressed by its inability to clear its short-term moving averages, which are now all moving downwards. This is not the end of the road for SHIB bulls; however, their efforts have been hampered, and overall sentiment has declined in the short term. Unless market conditions shift dramatically, Shiba Inu could continue to struggle as early June approaches. Keeping a watchful eye on the impending 50/200 death cross is crucial, as its confirmation may lead to increased downward pressure, potentially triggering a retest of lower price levels observed earlier this year.