- On April 3, the Shiba Inu (SHIB) price soared by around 3.22%, giving a sign of recovery after a weekly drop in the leading memecoin.
- The upward momentum in the memecoin was seen amid indicators suggesting a neutral to bullish momentum.
- Recently, Shiba Inu has completed safe bridging options for BONE tokens between Ethereum and Shibarium, while community-based burn mechanisms keep reducing supply over time.
On April 3, Shiba Inu, one of the biggest memecoin, recorded a solid price increase of 3.22% during the last 24 hours following fresh buying interest in this widely followed meme cryptocurrency.
As of now, SHIB is currently trading at around $0.000006015 according to real-time figures from CoinMarketCap. This surge has affected the market capitalization to roughly $3.54 billion and placed the token among the top 30 cryptocurrencies in size. The daily trading activity revolves around $91.48 million.
Shiba Inu Soars, But Remains in Neutral Zone
According to the technical indicators, Shiba Inu is now in cautious optimism in the short term. The Relative Strength Index revolves around 55 on the daily chart, which keeps the token squarely in neutral territory and avoids any extreme overbought or oversold readings. The moving average convergence divergence line has produced a fresh bullish crossover on lower timeframes, which often shows building upward momentum when confirmed by volume.
Shorter-term moving averages convergence divergence line has produced a fresh bullish crossover on lower timeframes, which suggests building upward momentum when confirmed by volume. Shorter-term moving averages are suggesting an upward momentum, while longer-term averages still sit overhead as potential resistance zones.
There is a strong support test around the $0.00000580 level, while the next clear resistance barrier appears near $0.00000620. A decisive close above this resistance with sustained volume could open the door toward $0.00000650 in the upcoming sessions.
There are many factors behind the rise in the memecoin price. A spike in the Shiba Inu burn rate has permanently removed millions of tokens from circulation in the last day alone, and this deflationary action frequently sparks positive price momentum by cutting down available supply.
On-chain data also revealed increased whale accumulation and large withdrawals from exchanges, which reduce sell-side pressure and support the current recovery. Macroeconomic conditions across the overall cryptocurrency market provide an additional drop as Bitcoin holds steady around $67,000 and investors show a selective appetite for memecoins during phases of market rotation.
Amid the ongoing war between the U.S. and Iran, the financial world is facing extreme turmoil due to the global energy crisis. This has also created an impact on the crypto market, yet platforms backed by strong communities like Shina Inu attract capital from participants seeking an asymmetric upside pattern.
Apart from this, major developments in the Shiba Inu ecosystem are making a strong foundation for the cryptocurrency for future growth. The Shibarium layer-2 blockchain recently completed extensive infrastructure upgrades that included full server migration and complete chain re-indexing. It temporarily lowered visible daily transaction coins but improved long-term stability and speed.
Layer-3 scaling solutions have now moved into active beta testing, and new AI integration tools are progressing through dedicated GitHub repositories that allow smart agents to interact directly with the network.
The ecosystem has already attracted more than 270 million wallet addresses, and total lifetime transactions on Shibarium exceed 1.56 billion.
Apart from this, there are privacy enhancements planned for the second quarter that will introduce fully homomorphic encryption for private transactions and smart contracts. The team also completed safer bridging options for BONE tokens between Ethereum and Shibarium, while community-based burn mechanisms keep reducing supply over time.
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