Market Overview: Shiba Inu/Dogecoin (SHIBDOGE) 24-Hour Analysis

Summary
• SHIBDOGE edged lower, closing at 5.48e-05 after opening at 5.55e-05 with a high of 5.6e-05 and a low of 5.42e-05.
• Key support at 5.45e-05 tested twice, with bearish momentum visible after 19:00 ET.
• Volume spiked over 200 million at 20:30 ET, confirming bearish breakdowns.
• RSI hit oversold territory at 29, suggesting potential for short-term rebound.

Shiba Inu/Dogecoin (SHIBDOGE) opened at 5.55e-05 on 2025-11-04 at 12:00 ET and closed at 5.48e-05 on 2025-11-05 at the same time. The pair reached a high of 5.6e-05 and a low of 5.42e-05 over the 24-hour period. Total trading volume amounted to 1.738 billion, and total turnover was approximately $89.89 million, assuming a mid-market rate of $0.000055 (used for illustrative purposes).

Price action was choppy throughout the day, with SHIBDOGE testing the key support level of 5.45e-05 multiple times. A bearish breakdown below this level occurred on the 15-minute chart at 20:30 ET, confirmed by high-volume bearish candlesticks. The price remained below key resistance levels of 5.53e-05 and 5.57e-05, suggesting bearish bias remains intact. The 20-period and 50-period moving averages on the 15-minute chart were both above the current price, reinforcing downward momentum.

RSI dropped into the 29-31 range in the early morning hours, indicating oversold conditions, which may attract short-term buyers. However, MACD was negative and the histogram showed bearish divergence. Bollinger Bands were in a moderate contraction phase, suggesting lower volatility and a potential breakout ahead.

On the volume front, the highest 15-minute volume spike occurred at 20:30 ET with 258.8 million units traded, confirming the bearish breakdown. However, volume dipped significantly in the early hours of 12:00 ET, indicating weak buying interest. A price-volume divergence emerged in the final hours, with price dipping below 5.45e-05 while volume declined, raising questions about the strength of the bearish move.

Fibonacci retracements showed SHIBDOGE falling to the 61.8% level of the recent 15-minute swing, reinforcing the potential for further downside. The 50-period daily moving average was above the close, adding to the bearish outlook.

Backtest Hypothesis
To evaluate a potential trading strategy using SHIBDOGE, the following parameters would be required:

1. Ticker / data source: Confirm whether the pair is SHIBDOGE-USDT on Binance or another exchange. Price data must be accurate to back-test candlestick patterns and trading signals.

2. Exit rule – sell at 5.45 support level: Clarify whether the exit should be triggered as soon as the close price touches or drops below 5.45e-05 (a static level), or if it should be adjusted to a dynamic support level based on swing lows.

3. Price used for signal execution: Specify whether trades should be executed at the close or the next day’s open. This affects slippage and the accuracy of back-test results.

Once confirmed, a back-test could be run from 2022-01-01 to 2025-11-05, identifying trades based on the Bearish Engulfing pattern and evaluating performance. This would allow for an assessment of risk-reward ratios, win rate, and drawdowns, providing valuable insights into the strategy’s viability.