Shiba Inu (SHIB) has fallen sharply against Dogecoin (DOGE), with the SHIB-DOGE pair hitting 0.0000472—the lowest since the pair’s Binance listing in November 2021. The decline extends a downtrend that started from March 2024 highs.
In dollar terms, SHIB’s volatility has dropped significantly. TradingView reports its 90-day realized volatility at an annualized 64%, the lowest since December 2023. Realized volatility measures past price fluctuations, offering insight into historical market turbulence.
Since May, SHIB has been consolidating within a narrowing range, marked by lower highs and higher lows. Analysts note that the eventual breakout from this range could determine the token’s next major move.
Over the past 24 hours, SHIB has gained more than 2% in USD value, reaching an intraday high of $0.000013584 at 22:00 on 17 September, fueled by extraordinary trading volumes of 2.08 trillion tokens. Resistance emerged at this peak, while support held near $0.000012882, forming a trading corridor of roughly 5% ($0.000007020).
Whale activity has also intensified, with over 7 trillion SHIB moved on-chain on Saturday, including 512 billion transferred from Kraken to undisclosed addresses.
Technical Highlights:
- Trading Range: $0.000012882 (support) – $0.000013584 (resistance), a 5% corridor.
- Volume: 2.08 trillion tokens during the 18:00 hour vs 24-hour average of 533.5 billion.
- Consolidation: Tight trading between $0.000013323 and $0.000013373 indicates potential accumulation.
- Volume Trends: Peaks of 7.55 billion tokens during resistance tests, dropping to 187 million in final minutes.
Outlook:
The SHIB-DOGE pair has broken down from a sideways pattern, continuing its long-term downtrend. As long as this trend holds, the relative outlook for SHIB versus DOGE remains bearish.
