Market Overview: Shiba Inu/Dogecoin (SHIBDOGE) 24-Hour Performance on 2025-10-11

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• SHIBDOGE rose 14.1% over 24 hours, closing above $53.8e-05, with a breakout above key resistance.
• High volatility evident in late-night spike to $79.1e-05, followed by consolidation.
• Volume surged in the 21:30–22:30 ET window, indicating sharp large-volume selling.
• RSI reached overbought, suggesting potential pullback, while MACD showed bullish momentum.
• Price action confirmed by volume, but divergences in final hours hint at short-term profit-taking.

Opening Narrative

Shiba Inu/Dogecoin (SHIBDOGE) opened at $4.84e-05 on October 10 at 12:00 ET and closed at $5.38e-05 on October 11 at the same time. The 24-hour session saw a high of $7.91e-05 and a low of $4.38e-05. Total volume across the period was approximately 3.32e+11 units, with notional turnover (amount) of 64–86 SHIBDOGE equivalent, signaling strong participation, particularly during volatile swings.

Structure & Formations

The SHIBDOGE candlestick pattern over the last 24 hours displayed a sharp bullish reversal from a late-night bearish breakdown. A large-volume engulfing pattern developed around 21:30 ET, where price moved from $4.91e-05 to $7.91e-05 in a single 15-minute candle, followed by a gradual consolidation. The formation suggests strong buying pressure after a short-term capitulation. A bearish spinning top was observed in the last candle of the session, closing at $5.38e-05, which could hint at profit-taking or uncertainty in the near term.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were crossed multiple times during the volatile phase from 21:30 to 22:45 ET, indicating choppy, trendless conditions. On the daily chart, price closed above the 50-period and 100-period MA, but below the 200-period MA, suggesting a potentially constructive but not yet fully bullish bias for the broader trend.

MACD & RSI

The 15-minute MACD showed a strong bullish signal during the late-night breakout, with a wide histogram and a rising zero-crossing. However, the RSI surged to overbought territory (75–85), indicating a potential near-term correction or consolidation. RSI divergence was visible in the final hour, with price making a new high but RSI failing to do so—this may foreshadow a near-term pullback.

Bollinger Bands

Volatility expanded significantly during the breakout phase, with price spiking well above the upper Bollinger band. The 15-minute bands widened from a standard 2% range to nearly 15%, confirming a high-volatility move. Price closed near the middle band in the final hours, suggesting a potential reversion to trend.

Volume & Turnover

The most notable volume spike occurred around 21:30 ET, with a single candle carrying 49,835,784,751 units traded, far exceeding the average of 500–700 million. This suggests institutional or large-capacity selling at high prices. Notional turnover also spiked during this window, confirming price action. However, in the last 2–3 hours, volume declined, with price failing to make new highs—this divergence could hint at short-term exhaustion.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing (from $4.38e-05 low to $7.91e-05 high), the 61.8% level is at approximately $6.07e-05, which coincided with a bearish reversal candle. The 38.2% level is at $5.87e-05, where price consolidated briefly before pulling back. In the daily chart, the key Fibonacci level appears at the 50% retracement of the recent leg up, around $5.28e-05, which aligns with the current support level.

Backtest Hypothesis

The backtest strategy, which triggers long entries on 15-minute bullish engulfing patterns confirmed by volume spikes and short entries on bearish spinning tops with RSI divergence, appears well-aligned with recent SHIBDOGE behavior. During the breakout at 21:30 ET, the engulfing pattern and volume confirmation would have triggered a long signal, while the final candle’s bearish spinning top and RSI divergence suggest a short or partial exit. This approach could capture 10–15% of the daily move with relatively low exposure to the overnight risk.