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- 1 SHIBDOGE price chart displays a double bottom structure and is witnessing a rebound.
- 2 Buyers have regained momentum and started accumulation.
The SHIBDOGE price chart displayed a significant rebound and reverted from the bottom mark of $0.0001300. Furthermore, buyers have started accumulating and making fresh long positions, resulting in a significant pullback of over 28% this week. Following the market correction and selloff in the past sessions, the Shibadoge price has retested the 200-day EMA mark and has done the correction phase. However, the token has attained a rebound from the 200-day EMA mark and made a double-bottom formation. If buyers succeed in crossing the $0.0001500 mark, the pullback will stretch toward the $$0.0001700 mark.
At press time, the ShibaDoge token (SHIBDOGE) price was trading at $0.0001701 with an intraday gain of 0.06%, reflecting a neutral outlook on the charts. It has a monthly return ratio of -1.86% and 12.78% yearly. The intraday trading volume jumped over 2.67% to $77,719, witnessing low-volume activity, whereas the market cap is $15.12 Million. Analysts are neutral and suggest that SHIBDOGE price may continue to stretch the pullback and may skyrocket the gains ahead.
Over the past few sessions, the token has witnessed profit booking and retested the 200-day EMA mark this week. However, the correction has ended, fresh buying momentum has begun, and bulls are gaining momentum.
SHIBDOGE Price To Volume Profile On Daily Charts
The SHIBDOGE token price and volume on the daily chart indicate fresh bull accumulation in the last sessions. Moreover, signs of trend reversal were witnessed, and follow-on buying momentum was noted.
Per the Fib retracement levels, the SHIBDOGE price has reverted from the 23.6% zone and is trading near the Bollinger Band. The RSI curve spiked to the overbought region and showed a positive divergence, suggesting a continuation of the pullback for the following sessions.
The token’s total supply is 420 sextillion, and the volume-to-market cap ratio is 0.00512. The fully diluted market cap of the token is $15.12 Million, whereas it stands at 3222 per the market cap in the global crypto market.
Summary
The SHIBDOGE price has reverted from the 200-day EMA mark and is delivering fresh buying momentum on the charts. Furthermore, the trend flipped from oversold to neutral, and the token may continue to stretch the gains ahead.
Technical Levels
Support Levels: $0.0001600 and $0.0001500
Resistance Levels: $0.0001850 and $0.0002000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
