- SHIB’s market cap hits $8.97B, surpassing HBAR, with a 13.40% daily gain and 20.77% weekly rise, signaling strong investor interest.
- RSI at 64.50 nears overbought; MACD bullish crossover supports momentum. Resistance at $0.00001800, key support at $0.00001250.
- Sustained outflows suggest price growth; inflows may lead to correction. April targets $0.00002200 bullish, $0.00001000 bearish.
Shiba Inu (SHIB) has surged, surpassing Hedera (HBAR) in market capitalization. On March 26th, at the time of publication, SHIB was trading at $0.00001522, up by 13.40% in the past 24 hours and 20.77% in the past week.
The market cap is at $8.97 billion, overtaking HBAR’s $8.42 billion. Trading volume stands at 58.79% to $347.38 million, indicating increased investor interest. According to Shibburn, SHIB’s circulating supply is 589.25 trillion, with 1,761,292 tokens burned in the past 24 hours.
SHIB’s Bullish Momentum Gains Strength
The recent uptrend follows a consolidation phase, indicating a potential breakout. SHIB’s 24-hour trading volume reached 1.85 trillion tokens, showing increased market activity. Key indicators show growing bullish momentum.
The RSI is at 64.50, nearing the overbought level of 70. A further increase could drive prices higher, while exceeding 70 might lead to a short-term correction. Meanwhile, the MACD shows a bullish crossover, with the MACD line at 0.00000037 above the signal line at -0.00000008.
The histogram, turning positive, supports the upward trend. Resistance and support levels are important in determining SHIB’s next move. The immediate resistance is at $0.00001538, with a major barrier at $0.00001800. If SHIB fails to sustain its rally, support levels at $0.00001379 and $0.00001250 may be tested.
Price Projections for April 2025
SHIB’s movement depends on its ability to break key resistance levels. If it surpasses $0.00001800, it could target $0.00002200 by mid-April. Sustained buying pressure and whale accumulation may push prices further to $0.00002500.
On the other hand, if SHIB faces rejection at resistance, it could retrace to $0.00001250. A stronger downturn might lead to a drop toward $0.00001000, especially if Bitcoin or the broader crypto market declines. Exchange netflows play a role in SHIB’s price movement.
According to Coinglass, negative netflows indicate increased withdrawals, reducing selling pressure. If this trend continues, SHIB may see further price appreciation. However, a rise in exchange inflows suggests potential selling, increasing the risk of a decline.
Market Sentiment and Investor Behavior
Historical data shows that heavy outflows often coincide with price surges, while large inflows precede downturns. From June to October, SHIB saw substantial outflows, aligning with a price decline.
A sharp increase in inflows in late October led to a rally. December to February saw renewed outflows, resulting in price stabilization. In March, netflows balanced as prices showed signs of recovery. Key support and resistance levels are critical.
Historical data places major support at $0.00000700, while resistance levels hover around $0.00001500 and $0.00001800. If outflows dominate, SHIB may sustain its bullish trend, pushing toward $0.00001800. If inflows increase, the price could drop toward $0.00001000 or lower, especially if market sentiment turns bearish.
