As SHIB approaches $0.000015, Shiba Inu expects favorable returns in April

Shiba Inu's on-chain stats show strong adoption, with 1.4 million addresses with balances.

Shiba Inu's April returns are 14.4%, breaking a three-month negative trend.

SHIB is reaching $0.000015 due to crypto market bullishness and a technical breakthrough.

Shiba Inu (SHIB) rises to $0.00001413 on Friday amid a positive cryptocurrency market. Growing popularity and a tailwind have propelled the second-largest meme currency, with a market valuation of $8.3 billion, up more than 2% daily.

April returns for Shiba Inu rise as adoption grows.
Shiba Inu's on-chain data indicates constant rise in address holding balances, while IntoTheBlock's graphic shows 1.4 million active addresses, a new record. This upward trend indicates network adoption and investment participation.


Shiba Inu discusses stats | IntoTheBlock

The upward run in recent weeks has pleased SHIB investors, whose portfolios were hammered in the first quarter. CryptoRank reported 10.9% negative monthly returns for Shiba Inu in January. In February and March, returns fell 26.1% and 11.1%, respectively.

How far might SHIB's rise go?

At $0.00001413, Shiba Inu's price is rising, indicating increased interest in digital assets and meme currencies.

Shiba Inu might reach $0.00001471 after a 20% advance after the breakthrough.

On Wednesday, the 4-hour 50 Exponential Moving Average (EMA) rose above the 200 EMA, reinforcing traders' confidence in rising prices. Shiba Inu might accelerate the uptrend above the inverse head and shoulders pattern's goal of $0.00001471, and potentially reach $0.000015, if the 100 EMA crosses above the 200 EMA in forthcoming sessions.

The uptrend may be threatened by the RSI's overbought level at 72.65. Shiba Inu might turn back this week's gains if the RSI drops below 70.00, entering neutral. Traders may view Wednesday's resistance at $0.00001380, the 50 EMA at $0.00001293, and the 200 EMA at $0.00001265 as support levels.

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