Market Overview for Shiba Inu/Dogecoin (SHIBDOGE) as of 2025-12-13

Summary
• Price formed a bullish engulfing pattern at 5.97e-05, followed by a sharp rally to 6.12e-05.
• MACD showed positive divergence while RSI topped 70, signaling potential overbought conditions.
• Volatility expanded significantly during late-night hours, with turnover peaking at 6.06e-05.
• Bollinger Bands widened, and price closed near the upper band, hinting at bullish momentum.
• 61.8% Fibonacci retracement level at ~6.05e-05 acted as a temporary resistance before the breakout.

Shiba Inu/Dogecoin (SHIBDOGE) opened at 5.97e-05 on 2025-12-12 at 12:00 ET, rose to a high of 6.12e-05, and closed at 6.01e-05 by 12:00 ET on 2025-12-13. Total volume reached 388,977,382.0 units with a turnover of approximately $23,148.54 (at $6.05e-05 average price).

Structure & Formations

Price action showed a bullish engulfing pattern at 5.97e-05, followed by a strong upward thrust to 6.12e-05. This breakout appeared to break through prior resistance, especially at 6.06e-05 and 6.07e-05. A bearish retracement in the morning brought price down to 5.98e-05, testing a minor support level, but failed to break below it.

Moving Averages

On the 5-minute chart, price closed above the 20 and 50-period moving averages, suggesting momentum favoring the bulls. On the daily chart, the 50-period MA sat slightly above the 100-period MA, indicating a bullish bias.

MACD & RSI

The MACD crossed above zero and showed positive divergence with price, suggesting a potential continuation of the upward move. RSI peaked above 70, signaling overbought conditions, but failed to trigger a bearish reversal, indicating strong demand.

Bollinger Bands

Bollinger Bands saw a late-night expansion, with price reaching the upper band before retreating slightly. This suggests rising volatility and bullish pressure.

Volume & Turnover

Volume surged during the late-night and early-morning hours, particularly around 04:45 ET and 22:30 ET, where price made its highest peaks. Turnover spiked during these periods, confirming price action and indicating accumulation by buyers.

Fibonacci Retracements

The 61.8% Fibonacci retracement level at ~6.05e-05 acted as a short-term resistance before the price pushed through to 6.12e-05. This level is now a potential support if a pullback occurs.

Price appears to be in a consolidation phase after the breakout, with key support at 6.01e-05 and resistance at 6.06e-05. Traders may watch for a potential test of the upper Bollinger Band and a confirmation of the 61.8% retracement as a pivot point. However, a sudden reversal or sharp drop in volume could signal waning momentum.