Market Overview: Shiba Inu/Dogecoin (SHIBDOGE) – October 3, 2025

• SHIBDOGE dipped to 4.81e-05 on a high-volume bearish reversal in early hours.
• Price consolidated between 4.84e-05 and 4.86e-05 for much of the session with muted volatility.
• Late-volume buying pushed a short rebound to 4.88e-05 but failed to hold above.
• RSI and MACD showed bearish momentum with no clear overbought/oversold extremes.
• Volume and turnover remained uneven, with large spikes during key price swings.

24-Hour Summary

Shiba Inu/Dogecoin (SHIBDOGE) opened at 4.9e-05 on October 2 at 12:00 ET and closed at 4.84e-05 on October 3 at the same time. The 24-hour session saw a high of 4.93e-05 and a low of 4.81e-05. Total volume reached 1.03 billion tokens, and notional turnover stood at approximately $41.2 million.

Structure & Formations

Price action displayed a bearish bias for the majority of the session, with a key pivot forming at 4.85e-05. A large bearish engulfing pattern emerged during the 19:00–21:00 ET window, confirming the breakdown from previous consolidation. A small doji formed near the daily close at 4.84e-05, suggesting potential indecision ahead.

Moving Averages

On the 15-minute chart, the 20-period MA hovered just above 4.84e-05, while the 50-period MA sat at 4.85e-05, confirming the short-term bearish tilt. On a daily timeframe, price remains below the 200-day MA, suggesting medium-term bearish pressure.

MACD & RSI

MACD crossed below its signal line early in the session, reinforcing bearish momentum. RSI declined from 58 to 42 without hitting oversold levels, indicating the move down was orderly rather than panic-induced. No overbought conditions were observed during the session.

Bollinger Bands

Price remained within the Bollinger Bands for most of the session, with no significant expansion or contraction. The 4.85e-05–4.86e-05 range acted as a temporary resistance, while 4.83e-05 served as a support. The current price sits near the midband, suggesting a period of consolidation ahead.

Volume & Turnover

Volume spiked sharply during the bearish reversal at 19:00–21:00 ET, with over 65 million tokens traded during the breakdown. However, turnover did not confirm the strength of the move, showing a muted increase. Later in the session, volume declined despite a small rebound to 4.88e-05, indicating weak follow-through.

Fibonacci Retracements

On the 15-minute chart, price retraced to the 61.8% level of the prior bullish move (4.84e-05–4.88e-05), suggesting a potential support zone. On the daily timeframe, the 38.2% retracement at 4.87e-05 may offer limited resistance if the asset attempts a rebound.

Backtest Hypothesis

The described backtesting strategy involves entering short positions upon confirmation of a bearish engulfing pattern on the 15-minute timeframe, with stop-loss placed above the high of the engulfing candle and target set at the 61.8% Fibonacci level. Given the pattern seen on October 2 during the 19:00–21:00 ET window, this strategy would have yielded a profitable outcome. The low volatility and consolidation near 4.84e-05 suggest that this approach could be effective in the current environment, provided volume confirms the pattern.