Market Overview for Shiba Inu/Dogecoin (SHIBDOGE) - 2025-10-07

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• SHIBDOGE traded in a narrow range for most of the day before a late rally, closing near the upper end of the 24-hour range.
• High volatility emerged in the 16:00–17:00 ET window, with price dropping sharply from 4.87e-05 to 4.81e-05.
• Late buyers regained control after 07:00 ET, pushing price back above 4.87e-05 by 16:00 ET, ending the 24-hour period on a positive note.
• Strong buying pressure emerged in the final 30 minutes, closing at 4.87e-05 with a sharp bullish reversal formation.
• Turnover spiked at 13:00–14:00 ET and again at 15:00–16:00 ET, indicating increased institutional or large-cap participation.

Shiba Inu/Dogecoin (SHIBDOGE) opened at 4.83e-05 on 2025-10-06 12:00 ET and closed at 4.87e-05 by 2025-10-07 12:00 ET, with a high of 4.89e-05 and a low of 4.79e-05. Total volume for the 24-hour window was 1.17 billion tokens, and notional turnover reached $558.3 million, reflecting mixed retail and institutional activity.

Structure & Formations

Price action displayed a bullish consolidation pattern, with key resistance forming at 4.87e-05 and 4.89e-05 and support at 4.83e-05 and 4.81e-05. A bullish engulfing pattern formed near 16:00 ET, signaling potential for a breakout. A doji at 19:30 ET and 20:00 ET indicated indecision, but bullish buyers regained control post 07:00 ET.

Moving Averages

The 20-period and 50-period SMAs on the 15-minute chart intersected near 4.84e-05 during the 09:00–10:00 ET window, suggesting a potential trend shift. The 50-period SMA on the daily chart remains below the 200-period SMA, signaling a bearish bias in the longer term, though short-term momentum appears to be turning positive.

MACD & RSI

MACD crossed above the signal line around 08:00 ET, confirming a short-term bullish shift. RSI hovered near 50 for most of the day before rising to 58 at the close, indicating moderate bullish momentum without overbought conditions. RSI did not enter overbought territory, suggesting room for further upward movement.

Bollinger Bands

Volatility was relatively low in the early part of the day but expanded significantly after 17:00 ET. Price action remained within the bands until 16:00 ET, when it closed near the upper band, indicating a potential reversal or continuation. A narrow band period at 02:00–03:00 ET suggested a potential breakout, which materialized after 07:00 ET.

Volume & Turnover

Volume surged to a peak of 810 million tokens at 13:00 ET, coinciding with a price pullback, suggesting selling pressure. However, buying volume picked up after 07:00 ET, with a closing 30-minute rally at 15:00–16:00 ET confirming strength. Notional turnover matched volume spikes, showing no significant divergence.

Fibonacci Retracements

The 23.6% and 38.2% retracement levels aligned with key support and resistance levels at 4.83e-05 and 4.87e-05. A 61.8% retracement at 4.86e-05 acted as temporary resistance. On the daily chart, Fibonacci levels from the previous high and low align with the 4.85e-05–4.89e-05 range, suggesting potential continuation if the 4.89e-05 level is breached.

Backtest Hypothesis

A potential backtesting strategy involves entering a long position after a bullish engulfing pattern forms near the 20-period SMA on the 15-minute chart and exiting at the 61.8% Fibonacci level or when RSI reaches 60. Given today’s price action, a buy signal would have been triggered at 16:00 ET, with a target near 4.89e-05 and a stop loss at 4.83e-05. This approach could have captured a 1.2% move and preserved capital in the event of a pullback.