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

• Price opened at $0.0000508 and closed at $0.0000499, with a high of $0.0000515 and low of $0.0000495 over 24 hours.
• Volatility increased in early trading before consolidating in the afternoon with bearish pressure evident.
• Volume surged during a key downtrend from $0.0000514 to $0.0000495, particularly in the 4–7 AM ET window.
• RSI dipped into oversold territory near 30, suggesting possible near-term support at $0.0000494–496.
• Bollinger Bands contracted in the early morning, followed by a breakout to the downside.

The SHIBDOGE pair opened at $0.0000508 on 2025-09-23 at 12:00 ET and closed at $0.0000499 on 2025-09-24 at 12:00 ET. The 24-hour high was $0.0000515 and the low was $0.0000495. Total volume was approximately 2.91 billion units, and notional turnover was about $144,160. The price action reflected increasing bearish momentum in key periods, with a sharp drop from $0.0000514 to $0.0000495, followed by consolidation in the final hours.

Structure and key levels show a descending pattern with a notable bearish engulfing pattern forming at the top of the $0.0000514–511 range. Support levels appear to have been reinforced at $0.0000495 and $0.0000496 during the 1515–1600 ET window. The price action suggests that the immediate support is now $0.0000494–496, with the next key level at $0.0000490. Resistance is expected at $0.0000502 and $0.0000506 based on the retracement of the main 24-hour decline.

The 20-period and 50-period moving averages on the 15-minute chart indicate a bearish bias, as the price remains below both. The 50-period line crossed below the 20-period line in early trading, confirming a short-term downtrend. On the daily chart, the 50-period MA is approaching the 200-period MA, suggesting potential for a bearish crossover, which could signal further downside risk in the next few days.

MACD and RSI confirm the bearish momentum. The MACD line crossed below the signal line during the 2145–2230 ET window, with a negative histogram indicating bearish continuation. RSI dropped into the 30–35 oversold zone during the 1030–1145 ET window, but failed to rebound convincingly, suggesting a weak short-term bounce or continued bearish pressure. Bollinger Bands tightened between 0500 and 0700 ET, followed by a sharp downward breakout. This contraction and expansion pattern is often a precursor to significant price movement.

Backtest Hypothesis
A potential strategy to test would involve entering short positions when RSI dips below 35 and price breaks below the 50-period moving average on the 15-minute chart, with a stop-loss placed at the nearest resistance level above the entry. This would aim to capture short-term bearish continuation. A target could be set at the 61.8% Fibonacci retracement level of the recent $0.0000514–495 move, which is approximately $0.0000496. A trailing stop could be used if price shows signs of consolidation. Given the current market structure, this approach appears viable for the next 24–48 hours, assuming no major external catalysts.