- SHIB whale accumulation tops 874 billion in April
- Exchange supply hits record low boosting SHIB outlook
- SHIB targets $0.00001570 with bullish chart setup
Shiba Inu (SHIB) is showing renewed strength after bouncing from recent lows. With increasing on-chain activity and strong community support, SHIB is once again gaining attention. Analysts are now eyeing the $0.00001570 level as a short-term target if current momentum holds.
Key Metrics Show Strength as Exchange Supply Declines
At press time, Shiba Inu is trading at $0.00001258, reflecting a 2.63% increase over the last 24 hours. This comes after a 13-month low of $0.0000010 was recorded earlier in the month. Whale activity has picked up, with data showing approximately 874 billion SHIB accumulated in April, valued at over $10 million.
This signals renewed confidence from large investors.Additionally, the amount of Shiba Inu held on exchanges dropped to an all-time low of 85.3 trillion tokens, or 14.5% of the circulating supply.
A reduced exchange supply often results in upward price pressure when demand increases, as fewer tokens are readily available for sale. Analysts have pointed to this reduction as a sign of long-term holder confidence and a bullish setup.
Shiba Inu Technical Structure Suggests a Breakout Toward 1570
The price movement of SHIB has arrived at its long-term support area at $0.000011 and now tests short-term resistance at $0.000015. This resistance aligns with the 50-day moving average. A break and close above this zone may open the path toward $0.00001570.
Technical indicators are currently showing neutral-to-bullish signals. The Relative Strength Index (RSI) remains below the overbought zone, suggesting further upside room. SHIB has also shown relative strength against Ethereum, holding firm even as ETH struggles. Analysts predict SHIB will rise to $0.00001570 in the near future when market sentiment strengthens while trading volume stays high.
With steady accumulation from retail and institutional investors and strong community backing, SHIB is well-positioned for a potential breakout. Traders are advised to monitor price behavior near resistance as the market tests key levels.
