Will Shiba Inu fall to bears? Analyzing what’s ahead for SHIB’s price
  • Negative funding and rising price movement could push SHIB to $0.000030.
  • Signs from the volume suggest a possible consolidation phase.

After recording a positive value earlier, Shiba Inu’s [SHIB] The total funding rate fell into positive territory on April 28th. The funding rate is the cost of holding an open perp position.

When the indicator is green, longs are paying fees to shorts and the broad sentiment among traders is positive.

Negative funding, on the other hand, means more traders are betting that the price of the underlying cryptocurrency will fall.

SHIB may not support the crowd

However, price does not always influence trader psychology. In the case of SHIB, this may be the case considering the price movement. In the past 24 hours, Shiba Inu prices have increased.

Funded becoming more negative If the price rises slightly, sellers may weaken their moves. Therefore, buyers in the spot market appear to be aggressive, which could fuel further gains in SHIB.

SHIB flashes signals that could favor bullish bets

Source: Santiment

However, signals from funding rates may not be the sole determinant of price. This is why AMBCrypto focused on other metrics.

This time, Exchange flow. As of the writing of this article, the number of Shiba Inu exchanges has reached 723.48 million people. This data represents the number of tokens withdrawn from the exchange.

Conversely, foreign exchange outflow was $646.76 million. This is the number of tokens sent to the exchange. In most cases, the intention behind this action is to sell, leading to a drop in price.

However, if you look at the differences between both indicators, most participants would agree that they are leaning on the bullish side of things.

Therefore, it may be difficult for the bears to capitulate to the SHIB price. If this situation continues in the future, there is a high possibility that the token will return to $0.000030 in the short term.

SHIB exchange inflows and outflows

Source: Santiment

Price selects end-to-end movement

Despite this prediction, traders may need to keep an eye on SHIB’s volume. Volume reflects interest in an asset. If it increases, it means that participants are exchanging a large amount of the relevant cryptocurrency.

on the other hand, decline Decreasing volume means that interest in token trading is decreasing. Beyond this interpretation, quantity also influences price.

If the volume increases along with the price, the upward trend may continue. However, the press time data showed that the Shiba Inu’s volume was decreasing.

SHIB volume decline suggests a weak uptrend

Source: Santiment

In such a situation, the bullish theory discussed above may be invalidated as the upward momentum may weaken.

read a book about shiba inu [SHIB] Price prediction for 2024-2025

In this case, SHIB may undergo a consolidation period and its price may fluctuate between $0.000024 and $0.000027 in the short term.

However, if price remains elevated and volume increases, the bias could be invalidated and SHIB could eventually retest $0.000030.

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