Market Overview: Shiba Inu/Dogecoin (SHIBDOGE) – 24-Hour Candlestick Summary

Summary
• SHIBDOGE opened at $0.00006, traded between $0.0000568 and $0.00006, and closed near $0.0000577 at 12:00 ET.
• Volume surged to 1.23B at 14:45 ET but faded to 0.0 at 15:15, while turnover showed signs of diverging from price.
• A bearish engulfing pattern formed near $0.00006, suggesting potential short-term bearish momentum.
• Price briefly touched the 20-period SMA but fell below, indicating weakening bullish pressure.
• RSI bottomed at 27 during the decline, hinting at oversold conditions and potential bounce.

Shiba Inu/Dogecoin (SHIBDOGE) opened at $0.00006 on 2025-12-17 at 12:00 ET, reached a high of $0.00006, a low of $0.0000568, and closed at $0.0000577 by 12:00 ET on 2025-12-18. Total 24-hour volume was 3.35B, with turnover reflecting uneven distribution, particularly after 14:45 ET when volume hit 763.75M.

Structure & Moving Averages

Price formed a bearish engulfing pattern at $0.00006 after a consolidation phase, breaking below the 20-period and 50-period SMAs on the 5-minute chart. The daily 50-period SMA appears to act as dynamic resistance, while the 200-period SMA may now provide a baseline of support near $0.0000572.

Momentum and Volatility

Relative Strength Index (RSI) bottomed at 27 during the sell-off, signaling potential oversold conditions. Moving Average Convergence Divergence (MACD) turned negative mid-day, confirming bearish momentum. Bollinger Bands widened as volatility increased during the drop from $0.00006 to $0.0000568, with price testing the lower band at the session low.

Volume and Turnover Divergence

Volume spiked sharply to 763.75M at 14:45 ET but failed to sustain any meaningful price rebound, suggesting a divergence between volume and price. Similarly, large-volume moves toward $0.0000578 were followed by quick reversals, indicating fading bullish conviction.

Fibonacci Retracement Levels

On the 5-minute chart, the recent leg down from $0.00006 to $0.0000568 saw price test the 61.8% retracement level at $0.0000578 before retreating. The 38.2% level at $0.0000595 may now serve as a short-term resistance ahead of the 50-period SMA.

Price may attempt a near-term bounce off the 27 RSI level but faces key resistance at $0.0000595. Investors should monitor volume behavior for confirmation of any reversal, with a risk caveat of further consolidation or a test of the $0.0000568 level if bearish momentum intensifies.