I think the initial funding goal is a bit high and that it launched too close to Mighty No. 9. (Especially since it was afterward.)
Getting a strong initial surge is really important for Kickstarters that are based on existing IPs. Lots of people will not donate if it doesn't look like it will meet funding right away, even if it's something they wouldn't think twice about had it already met it's goal. (Or was at least really close.)
I still think it will make it, but it's in a pretty perilous position right now.
It's not really perilous at all. They could completely phone it in at this point and would still hit the initial funding goal.
I'm not sure if the Mighty No. 9 kickstarter being at he same time is really a negative. I think it's actually likely to bring more people to kickstarter who might also fund this. Shantae just isn't nearly as well known as Megaman.