Market Overview: Shiba Inu/Dogecoin (SHIBDOGE) – 2025-10-09 12:00 ET

• SHIBDOGE declined from 4.83e-05 to 4.86e-05, with bearish momentum and volume contraction in the final 6 hours.
• A 15-minute doji at 4.83e-05 and a bullish engulfing at 4.89e-05 signaled mixed short-term sentiment.
• RSI remained neutral near 50, but MACD divergence suggested weakening upward drive.
• Bollinger Bands showed moderate volatility, with price consolidating near the 15-minute MA20.
• High turnover in the 7–9 AM ET window failed to sustain the upward push, highlighting bearish divergence.

At 12:00 ET, SHIBDOGE opened at 4.8e-05, peaked at 4.91e-05, and closed at 4.86e-05, with a 24-hour low of 4.76e-05. Total volume stood at 584.6M units, while turnover reached $27,619 (assuming $4.86e-05 as USD price). A bearish close suggests potential continuation of a short-term downtrend.

Structure and price action revealed a critical resistance at 4.9e-05, where volume spiked but failed to push above the level. A bullish engulfing pattern at 4.89e-05 was followed by a bearish reversal, indicating a lack of conviction. A doji at 4.83e-05 also signaled indecision, with support likely forming at 4.86e-05 and 4.84e-05.

The 15-minute MA20 and MA50 crossed near 4.86e-05, providing a neutral signal. While the MACD showed a bearish crossover, the RSI remained neutral near 50, indicating no overbought or oversold conditions. Bollinger Bands remained wide, with price hovering near the MA20, suggesting consolidation.

Volume and turnover revealed a significant spike in the 7–9 AM ET window, during which price surged to 4.91e-05 on 295.4M volume but then collapsed. This bearish divergence implies a lack of buying interest. A 38.2% Fibonacci level at 4.87e-05 acted as a temporary cap before the drop, suggesting short-term volatility ahead.

The backtest strategy suggests utilizing a bullish engulfing candle above 4.89e-05 as a buy trigger, with a stop-loss at 4.87e-05 and a target at 4.92e-05. This aligns with the Fibonacci and Bollinger Band levels identified. A doji at 4.83e-05 can also act as a reversal signal, with a short position entry near 4.84e-05 and a stop above 4.88e-05.

Looking ahead, SHIBDOGE may test key support at 4.86e-05 and 4.84e-05. A break below 4.84e-05 could accelerate the downward trend, but a rebound above 4.89e-05 would signal renewed bullish interest. Investors should remain cautious of divergences between volume and price movement.