Market Overview for Shiba Inu/Yen (SHIBJPY) on 2025-10-14

• SHIBJPY declined by 11.3% over the last 24 hours, closing at 0.001590.
• Volatility surged after 18:00 ET, with a 0.0016 range swing in 90 minutes.
• A bearish engulfing pattern formed at 0.001685–0.001664, confirming downward momentum.
• Turnover spiked 25x the average in the 20:00–22:00 ET window.
• RSI hit oversold territory, suggesting potential near-term support at 0.001575–0.001585.

24-Hour Summary

Shiba Inu/Yen (SHIBJPY) opened at 0.001685 (12:00 ET - 1), peaked at 0.001722, and closed at 0.001590 at 12:00 ET. The pair declined by 11.3% on the back of high-volume bearish surges in the evening hours. Total trading volume for the 24-hour period was approximately 5.37 billion SHIB, with a notional turnover of roughly ¥8.5 million.

Structure & Formations

Price action over the last 24 hours featured a clear breakdown from a key resistance cluster near 0.001685–0.001703, confirmed by a bearish engulfing pattern on the 15-minute chart. A doji formed briefly near 0.001705, indicating indecision before a steep decline. Key support levels to watch include 0.001629 (initial support), 0.001585 (psychological level), and 0.001575 (Fibonacci 61.8% of the recent rally).

Moving Averages

On the 15-minute chart, price closed below both the 20-EMA (0.001603) and 50-EMA (0.001608), reinforcing the bearish momentum. On the daily chart, the 50-EMA at 0.001615 is currently acting as a dynamic resistance. Price is now well below the 100-EMA and approaching the 200-EMA (0.001620), which could become a pivotal support or resistance level.

MACD & RSI

The 15-minute MACD turned negative and the histogram has been expanding lower since 19:00 ET, reflecting accelerating bearish momentum. RSI has dropped to 28, reaching oversold territory, but this does not guarantee a reversal—especially with volume remaining high. The combination of low RSI and rising bearish volume suggests a continuation of the downtrend is likely unless a large bullish reversal candle forms.

Backtest Hypothesis

Given the observed oversold RSI and high-volume bearish momentum, a backtesting strategy could be built using the 14-period RSI with a 30-level threshold. Triggers would open short positions when RSI dips below 30 and close them after one trading day. Using the SHIB-USDT proxy for price data, a backtest could quantify the win rate and risk-reward ratio of this approach in recent SHIB price action. This strategy aligns with the current bearish technical setup and could provide empirical support for trend-following entries in this low-cap asset.