$SHIB SHIBDOGE: Hints Reversal, Short Covering, or Accumulation Begun?

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.