Market Overview for Shiba Inu/Dogecoin (SHIBDOGE) on 2025-11-12

Summary
• Price remains range-bound with minimal directional bias over the last 24 hours.
• Volume saw intermittent surges but no consistent price confirmation.
• A bearish divergence in volume and price appears late in the session.

Shiba Inu/Dogecoin (SHIBDOGE) opened at $0.0000557 and traded in a narrow range throughout the 24-hour period, with a high of $0.0000566 and a low of $0.0000557. The price closed at $0.0000565 at 12:00 ET on 2025-11-12. Total trading volume amounted to 1,763,477,555.0 units, while notional turnover (based on average close price) was approximately $98,180. The price action remained compressed, showing no signs of a breakout or reversal pattern.

Structure & Formations

The candlestick structure showed minimal directional bias, with most candles forming as doji or small bodies. A few bearish reversal signals appeared as late as the 06:00–06:45 ET period, indicating potential selling pressure after a rally. However, the trend lacked confirmation, and no clear support/resistance levels were tested decisively. The price moved between two minor horizontal levels: $0.0000557 and $0.0000566, with the 61.8% Fibonacci level at $0.0000560 providing a potential pivot point.

Moving Averages

The 15-minute chart showed the 20-period and 50-period moving averages closely aligned, with the price oscillating between them without a clear directional bias. On the daily chart, the 50-period MA was slightly above the 200-period MA, suggesting a neutral to mildly bullish trend. However, the 100-period MA acted as a minor ceiling in the last 24 hours, limiting upside movement.

MACD & RSI

The MACD remained flat for much of the session, with a small positive divergence forming late in the day. This suggests a potential shift in momentum, but it lacks strong conviction. The RSI hovered around the 50 level, indicating a balanced market. At times, the RSI dipped toward oversold territory, but not significantly enough to trigger a strong reversal trade.

Bollinger Bands

Price action remained within a narrow range for most of the session, with a slight expansion of the bands in the 04:00–06:00 ET period. The price tested the upper band at $0.0000566, but failed to break through. This suggests a continuation of the consolidation phase rather than a breakout. The midband of the Bollinger Bands acted as a support level in the latter half of the session.

Volume & Turnover

Volume spiked significantly during the 05:00–06:00 ET window, with the largest volume bar reaching 154,416,960 units. However, the price failed to make a decisive move during this period, which raises the possibility of a false break or profit-taking. The highest turnover came from the same 15-minute period, suggesting increased activity but without directional clarity. A bearish divergence between volume and price was noted as the session closed, with volume declining even as the price moved higher.

Fibonacci Retracements

Applying Fibonacci levels to the most recent 15-minute swing showed the 38.2% level at $0.0000559 and the 61.8% level at $0.0000561. The price tested both levels but failed to hold, indicating a lack of strong buyer or seller conviction. On the daily chart, the 61.8% retracement of the previous 7-day range sits at $0.0000562, aligning closely with the upper end of the 24-hour range.

Backtest Hypothesis

The absence of the “SHIBDOGE” ticker in the data provider’s universe highlights a limitation when trying to apply pattern-based strategies such as the “Bullish Engulfing” signal. Given the data available, it is recommended to adjust the symbol to one that is actively traded, such as “SHIB-USD” or “DOGE-USD,” for a more accurate backtest. If the OHLC data is already available, it can be manually fed into the strategy for testing. This flexibility ensures that the backtest remains both relevant and actionable for the target asset.