SHIB Price Surges 16.08% in 24 Hours Amid Volatile Short-Term Movements

On SEP 2 2025, SHIB rose by 16.08% within 24 hours to reach $0.00001204, SHIB dropped by 173.5% within 7 days, rose by 229.89% within 1 month, and dropped by 4117.09% within 1 year.

The recent 24-hour price movement represents one of the most notable short-term rebounds for SHIB, despite a sharp weekly decline that suggests ongoing uncertainty in the market. This volatility highlights the asset’s sensitivity to broader crypto market dynamics and investor sentiment. The 229.89% increase over the past month, while impressive, is significantly offset by the year-over-year drop of over 4100%, underscoring the long-term challenges facing the token.

From a technical perspective, SHIB’s price action over the past seven days has shown erratic behavior. A 173.5% decline in weekly performance suggests that the asset has been trading in a bearish trend during this period, even as it has managed to stage a strong recovery within a single day. This divergence between short-term and longer-term trends is not uncommon in highly speculative assets and can be attributed to a combination of automated trading bots, market sentiment shifts, and volume imbalances.

The 24-hour rally, while positive, appears to be more of a short-lived rebound than a reversal of the broader downward trend. Investors closely watching the daily charts have noted that the increase came with limited follow-through in terms of sustained volume, which may limit the likelihood of a broader reversal. However, the one-month performance remains a bullish indicator, especially for those using medium-term strategies.

SHIB’s technical indicators suggest a complex market environment. The asset has oscillated sharply between bullish and bearish conditions, with key support and resistance levels frequently being tested without consistent follow-through. Traders utilizing moving averages have noted that the 50-day and 200-day lines remain significantly below current price levels, reinforcing the long-term bearish trend.

Backtest Hypothesis

A potential backtesting strategy involves analyzing SHIB’s price patterns using a combination of the Relative Strength Index (RSI) and the 20-day Exponential Moving Average (EMA). The RSI is used to identify overbought and oversold conditions, while the EMA is used to determine the direction of the trend. In this approach, a buy signal is generated when the RSI drops below 30 (indicating oversold conditions) and the price closes above the 20-day EMA. A sell signal is triggered when the RSI rises above 70 and the price closes below the EMA. This method aims to capture short-term reversals in the context of a broader bearish environment, leveraging SHIB’s known volatility for profit.

The strategy is particularly relevant given the recent 16.08% 24-hour gain, which could be seen as a potential short-term reversal from oversold territory. If the backtest aligns with historical patterns, it may suggest a window for tactical entries, though it does not imply a fundamental shift in the asset’s long-term trajectory.