Latest Shoggoth (shoggoth.monster) (SHOGGOTH) Price Analysis

TLDR Shoggoth (SHOGGOTH) rose 12.26% over the last 24h, outpacing the broader crypto market’s +5.44% gain. This follows a 30-day uptrend (+3.19%) but remains down -30.7% over 90 days. Key drivers:

1. Social media speculation – A viral Elon Musk tweet tag sparked meme-driven interest (@Shoggoth_SOL)
2. Technical rebound – Oversold RSI and bullish crossover signal short-term momentum
3. Low-cap volatility – 55.6% surge in 24h trading volume amplified price swings

Deep Dive

1. Social Media Hype (Bullish Impact)

Overview: On 6 August 2025, Shoggoth’s official X account publicly tagged Elon Musk, offering to send him tokens. While unacknowledged, the post gained traction in crypto meme circles.

What this means: Meme coins often see volatility from celebrity-linked speculation. The tweet’s timing aligns with the price surge, suggesting retail traders interpreted it as a potential catalyst. However, without Musk’s engagement, the impact may fade quickly.

What to look out for: Sustained social volume metrics or confirmation of influencer participation.

2. Technical Rebound (Mixed Impact)

Overview: SHOGGOTH’s 14-day RSI rose from 38.44 (near oversold) to 43.84, while its price crossed above the 7-day SMA ($0.00467). The MACD histogram remains negative (-0.0000996), signaling lingering bearish pressure.

What this means: Short-term traders may be capitalizing on oversold conditions, but the MACD divergence suggests this rally lacks strong momentum. The pivot point at $0.00434 now acts as critical support.

3. Exchange Dynamics (Bearish Context)

Overview: SHOGGOTH was delisted from Gate.io’s Pilot Market on 4 June 2025, reducing liquidity. Despite this, its 24h volume spiked to $1.1M (+55.6%), indicating concentrated speculative activity.

What this means: Low liquidity exacerbates volatility in small-cap assets like SHOGGOTH (market cap: $4.71M). The turnover ratio of 0.236 suggests moderate slippage risk.

Conclusion

The price surge reflects a combination of meme-driven speculation and technical traders capitalizing on oversold signals, amplified by SHOGGOTH’s thin liquidity. While bullish in the immediate term, the lack of fundamental catalysts and mixed technicals heighten reversal risks.

Key watch: Can SHOGGOTH hold above the $0.00434 pivot point, or will profit-taking erase gains?

TLDR Shoggoth (SHOGGOTH) fell 3.5% in the past 24h, diverging from its 34% 7-day rally. Key drivers:

1. Profit-taking pressure – Overbought signals after 34% weekly surge
2. Social hype cooling – Reduced traction from recent Elon Musk-themed speculation
3. Technical resistance – Failed breakout at $0.00695 Fibonacci level

Deep Dive

1. Profit-Taking Pressure (Bearish Impact)

Overview: SHOGGOTH’s 34% weekly rally pushed its 7-day RSI to 76.63 (overbought), triggering sell-offs as traders locked gains. The token’s 24h volume fell 0.83% to $1.07M, signaling fading momentum.

What this means: Overbought conditions historically precede corrections for low-cap meme coins like SHOGGOTH. The 200-day EMA ($0.01165) acting as long-term resistance reinforces bearish sentiment among swing traders.

2. Social Hype Cooling (Mixed Impact)

Overview: A 6 August tweet (@Shoggoth_SOL) tagging Elon Musk briefly fueled speculation, but follow-through demand faded.

What this means: Meme coins often spike on celebrity mentions but struggle to sustain gains without tangible utility. SHOGGOTH’s 90% drop from its 2024 ATH ($0.1774) highlights its volatility.

3. Technical Rejection (Bearish Impact)

Overview: SHOGGOTH failed to hold the 23.6% Fibonacci retracement level ($0.00619) after testing $0.00695. The MACD histogram (+0.00027) shows bullish momentum, but price remains below the 200-day SMA.

What this means: Bulls need a close above $0.00695 to invalidate the bearish structure. Failure could see a retest of the 38.2% Fib support at $0.00571.

Conclusion

SHOGGOTH’s dip reflects profit-taking after overheated gains, compounded by weak technical follow-through. While the meme-driven narrative persists, traders are scrutinizing its ability to hold key levels.

Key watch: Can SHOGGOTH reclaim $0.00619 Fibonacci resistance, or will profit-taking push it toward $0.00571? Monitor social volume spikes for short-term catalysts.