SHIBDOGE has fallen by 1880.6% over the past year due to significant downturns and persistent negative trends

On September 8, 2025, SHIBDOGE suffered a steep decline of 36.63% over the preceding 24 hours, ending the session at $0.0000545. Over the past week, the token plummeted by 388.69%, and in the last 30 days, it dropped by 456.14%. Its yearly performance is even more severe, with a staggering 1880.6% loss so far this year. The pace of the decline has intensified, driven by ongoing sell-offs and minimal buying activity.

The token continues to trend downward, consistently failing to maintain support at previous key levels. Technical analysis highlights a growing bearish momentum: the RSI has slipped into oversold conditions, and the MACD has been negative for several consecutive weeks, indicating persistent downward pressure. Despite some signs of recovery in parts of the broader crypto market, SHIBDOGE’s price has not demonstrated any stabilization or signs of a reversal.

Weak on-chain performance and diminishing trading volumes have further fueled this negative trend. Recent statistics reveal a notable drop in daily active addresses and lower overall network usage, reinforcing the impression of declining investor interest. Moreover, major holders have significantly increased their selling, with numerous large-scale outflows observed in recent weeks.

Analysts examining SHIBDOGE have placed greater emphasis on momentum indicators to assess the extent of the bearish phase. Market participants are watching closely for RSI divergence and the strength of price movements around major support areas. Still, the lack of clear accumulation or positive on-chain trends means a significant recovery is not expected soon.

Backtest Hypothesis

One frequently discussed approach utilizes a mix of RSI and price movement analysis to pinpoint potential entry opportunities during the continuing downtrend. The backtest presumes a short-term momentum setup: entering long trades when the RSI rises above the oversold threshold (under 30) and price climbs past a crucial support level with heightened volume. Stop-losses are set just below the latest swing low, while profit targets are placed at the nearest prior resistance.

This method seeks to take advantage of short-lived price rebounds in an extended downturn, capitalizing on excessive selling. Even though the RSI has tested oversold levels multiple times without a clear turnaround, this strategy stays in play if strong volume signals renewed buying interest. However, under present conditions, the likelihood of success remains slim unless there is a significant change in market sentiment.