Market Overview for Shiba Inu/Dogecoin (SHIBDOGE) – 24-Hour Analysis as of 2025-09-17

• SHIBDOGE consolidates between $4.88e-05 and $4.95e-05, with mixed volume and price action.
• No clear bullish or bearish breakout, but intraday volatility remains low.
• RSI and MACD show neutral momentum, suggesting indecision in the market.
• Volume surges during late trading hours on 2025-09-16 but failed to drive price higher.

Opening Summary

Shiba Inu/Dogecoin (SHIBDOGE) opened at $4.94e-05 at 12:00 ET-1 and traded in a tight range throughout the 24-hour period. The price reached a high of $4.96e-05 and a low of $4.87e-05, closing at $4.89e-05 at 12:00 ET. Total volume amounted to 898,394,124.0, with a notional turnover that reflects limited directional bias.

Structure & Formations

Price activity remains range-bound with a cluster of support at $4.88e-05 and resistance near $4.95e-05. Several doji and spinning top patterns emerged during the 15-minute charting period, suggesting indecision among traders. A key bearish engulfing pattern occurred around 18:15 ET on 2025-09-16 when SHIBDOGE closed at $4.94e-05 after a high of $4.95e-05. A potential bullish hammer appeared briefly in early morning trading on 2025-09-17 but failed to sustain upward momentum.

Structure Summary

• Support Zone: $4.87e-05 – $4.88e-05
• Resistance Zone: $4.95e-05 – $4.96e-05
• Key Candlestick Patterns: Doji, spinning top, bearish engulfing, potential hammer

Moving Averages

The 15-minute chart shows the 20-period and 50-period moving averages converging near $4.91e-05, with price hovering just below the 50 SMA. This suggests a potential short-term consolidation pattern. On the daily chart, SHIBDOGE is trading above the 50-period MA but below the 100 and 200-period MAs, indicating a mixed intermediate-term outlook with no clear trend forming.

Moving Averages Summary

• 15M: 20 MA ~ $4.91e-05, 50 MA ~ $4.91e-05
• Daily: 50 MA above price, 100/200 MA below price

Momentum Indicators: MACD & RSI

MACD remains near the zero line, with a very narrow histogram, suggesting a period of consolidation and no strong directional momentum. RSI fluctuated between 48 and 55, hovering in neutral territory and failing to enter overbought or oversold ranges. This implies a lack of conviction in either direction and continued sideways movement.

Volatility & Volume

Bollinger Bands show a slight contraction in volatility during the latter half of the 24-hour period, with price staying within the bands without testing the outer boundaries. Volume spiked during the late trading hours on 2025-09-16, particularly around 19:45 and 20:30 ET, but failed to confirm a breakout. The divergence between volume and price movement points to potential exhaustion in either bullish or bearish momentum.

Fibonacci Retracements

Applying Fibonacci levels to the intraday swing from $4.87e-05 to $4.95e-05, the 38.2% retracement level is at $4.90e-05 and the 61.8% level is at $4.89e-05. Price has consolidated near the 61.8% level, indicating a potential short-term support area. A break below this level could signal a deeper correction toward the $4.87e-05 low.

Backtest Hypothesis

The backtesting strategy involves entering long positions at the 38.2% Fibonacci retracement level and exiting at the 61.8% level, with stop-loss placed below the most recent swing low. Given the current price hovering near the 61.8% level and the lack of strong directional momentum, this strategy may offer limited profit potential unless a breakout or breakdown occurs. The MACD and RSI remain neutral, which aligns with the conservative nature of the strategy, minimizing exposure to volatile price swings.