Market Overview for Shiba Inu/Yen (SHIBJPY): Key Moves and Momentum Shifts

Summary
• Price broke 0.001310–0.001320 resistance before consolidating.
• Volume surged during the midday rally but faded later.
• RSI entered overbought territory briefly, suggesting possible near-term pullback.
• Bollinger Bands expanded, showing increased volatility in the past 24 hours.
• A bullish engulfing pattern formed early in the session, followed by a bearish correction.

Shiba Inu/Yen (SHIBJPY) opened at 0.001281 on 2025-12-11 at 12:00 ET, surged to 0.001342, and closed at 0.001317 at 12:00 ET on 2025-12-12. Total volume reached ~163,525,148, while turnover hit ~212.44 yen-equivalent in the 24-hour window.

Structure & Formations

Price tested the 0.001310–0.001320 area multiple times, forming a bullish engulfing pattern early in the session before reversing during the 0.001327 high. A bearish correction followed as it retracted into a 61.8% Fibonacci level of the recent high.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages showed a bullish crossover during the early rally. However, as the 50-period lagged, the trend weakened by late session, suggesting possible profit-taking.

Momentum and Volatility

Relative Strength Index (RSI) hit 70 during the peak rally, signaling overbought conditions, which could invite a near-term pullback. Bollinger Bands expanded significantly, confirming increased volatility.

Volume and Turnover

Volume spiked during the midday push toward 0.001327 but dropped off significantly in the final 5 hours, suggesting a loss of conviction. Turnover showed no clear divergence, but volume spikes were not always accompanied by sharp price moves.

Forward Outlook and Risk

While the rally above 0.001320 shows bullish potential, overbought RSI and fading volume may hint at a near-term consolidation phase. Investors should watch for a retest of 0.001310–0.001315 for support and remain cautious of a reversal on increased bearish momentum.