The Shiba Inu price crashed to an important support level in March as the crypto market sentiment worsened. Technicals and the ongoing performance in Shibarium point to a potential bullish SHIB forecast for April.
Shiba Inu Price Technical Analysis
The weekly chart shows that the Shiba Inu price collapsed to an important support level in March. It fell to the crucial point of $0.00001210, down by 65% from its highest point in 2025.
Its lowest point in March was notable because it coincided with the August 2024 low. It also aligned with the ascending trendline connecting the lowest level since its inception in 2021. The last time it retested this trendline was in 2023 and 2024, and the coin went parabolic afterward.
Therefore, on the positive side, there is a likelihood that the coin will bounce back now that it has hit a crucial support point. If this happens, it will likely rebound and retest the resistance point at $0.000033, up by 165% from the current level.
However, there is a risk that the Shiba Inu will lose support and drop further. This risk is possible because the current support can be seen as the neckline of the double-top pattern at $0.000033. A double top is one of the most bearish patterns in technical analysis.
This case is validated by the fact that oscillators like the Relative Strength Index (RSI) and the MACD have pointed down and have not moved to the oversold level. They have also not started to form a bullish divergence pattern. Therefore, there is a risk that it may crash to the key support at $0.0000006, down by 55% from the current level.
SHIB price chart | Source: TradingView
READ MORE: Buy, Hold, or Sell? Shiba Inu Price Prediction for April 2025
Top Catalysts that May Push SHIB Price Up in April
Shiba Inu coin price has numerous catalysts that may push it higher in April. First, there is a chance that crypto investors will buy the dip now that the coin has moved into a bear market. Historically, two months of consecutive losses have been followed by strong rebounds.
Second, there are signs that the Shibarium network is gaining steam. While its ecosystem is still small, its DeFi total value locked jumped by over 20% in March. This was a notable gain since most layer-1 and layer–2 networks lost assets during the month.
Further, there are signs that Shiba Inu’s burn rate is surging. On Monday, the daily burn rate soared by over 700%. And last week, two holders burned 1 billion tokens each, increasing deflation.
Finally, Shiba Inu price may jump if the Federal Reserve intervenes in the market and cuts interest rates because of Donald Trump’s tariffs.
READ MORE: Top 4 Crypto to Buy With the Most Bullish Crowd Sentiment
