SHIBDOGE -1880.6% in 1 Year Amid Sharp Corrections and Negative Momentum

On SEP 8 2025, SHIBDOGE experienced a dramatic 36.63% drop in the past 24 hours, closing at $0.0000545. Over the last week, the token has fallen by 388.69%, while over a 30-day period it has lost 456.14%. Annual performance remains the most severe, with SHIBDOGE down 1880.6% year-to-date. The decline has continued to accelerate amid sustained selling pressure and a lack of notable buy-side activity.

The token has remained in a clear bearish trend, with price failing to find support at multiple previous levels of interest. Technical indicators reflect deepening bear momentum. The RSI has fallen into oversold territory, and the MACD has remained in negative territory for several weeks, suggesting continued downward bias. Price has not shown any signs of reversal or consolidation, even as the broader crypto market has seen modest recovery in select segments.

The absence of strong on-chain activity and declining trading volume have further exacerbated the downtrend. Recent data shows that SHIBDOGE has seen a sharp reduction in daily active addresses and overall network usage, contributing to the perception of waning interest. The token has also faced significant selling pressure from larger holders, with multiple large outflows reported over the last month.

Technical analysis of SHIBDOGE has increasingly relied on momentum-based indicators to gauge the depth of the bear phase. Traders and analysts have been closely monitoring the RSI divergence and the strength of price reactions to key support levels. However, the absence of a clear base of accumulation or positive on-chain signals suggests that a meaningful rebound is unlikely in the near term.

Backtest Hypothesis

A commonly proposed strategy involves using a combination of RSI and price action to identify potential entry points amid the ongoing bear trend. The backtest assumes a short-term momentum trade, where long positions are initiated when RSI crosses back above oversold levels (below 30) and price breaks above a key support level with increased volume. Stops are placed just below the most recent swing low, while take-profit levels are set at the nearest previous resistance.

The strategy aims to capture short-term rebounds during a prolonged downtrend, capitalizing on overextended selling. While the RSI has repeatedly tested the oversold level without meaningful reversal, the strategy would remain active under the assumption that buying interest could materialize with strong volume confirmation. However, given the current context, the probability of successful execution remains low without a significant shift in market dynamics.