Shiba Inu gained new strength after breaking a major trendline, according to analyst TraderSZ. He stated that SHIB was “also breaking out,” pointing to improving sentiment. His comments came during a broader relief rally after Bitcoin briefly touched $89,000 earlier today. The move placed SHIB among the altcoins benefiting from renewed confidence.
SHIB Breaks Descending Structure After Extended Weakness
Shiba Inu climbed 4% today to $0.000008632 after falling to $0.00000678 last week. For most of November, SHIB moved inside a steady downward structure, forming lower highs and lower lows. Recent price action shows the token pushing above a descending trendline that held for several weeks. Analysts viewed this move as an early sign that buyers were regaining control after a long period of weakness.
SHIB price chart, Source: CoinMarketCap
TraderSZ noted that the breakout followed a brief consolidation near the $0.000007 level. SHIB then moved above a diagonal resistance point for the first time in weeks, signaling improved momentum. Breaking a trendline often marks the first phase of a potential shift, especially after sustained selling pressure. SHIB lost the $0.00001 price level in October and has struggled to reclaim it, making today’s progress more notable.
Source: X
A higher high would confirm a stronger reversal and reinforce SHIB’s recovery attempt. The current breakout provided traders with a structural signal that the downtrend may be weakening. SHIB’s position above resistance now places attention on its next move.
SHIB Attempts to Extend Breakout as Analysts Map Key Targets
Shiba Inu’s recovery comes as several altcoins, including Dogecoin, attempt to bounce from recent sell-offs. SHIB’s momentum now depends on whether the broader market maintains strength and attracts consistent buying interest.
Last week, analyst Kledji Cuni said SHIB was approaching major support at $0.0000067. He described the zone as an area that historically aligned with cycle bottoms and sparked rebounds. Cuni mapped possible upside targets at $0.0000170, $0.0000320, and $0.0000420. These levels represent potential gains of 150% to 500% if SHIB extends its current breakout.
Analyst Shib Knight also expressed confidence at current levels. He described the range as a quiet accumulation zone and said he planned to continue DCAing if conditions remained stable.
TraderSZ did not give a specific target but emphasized that breaking the long-standing trendline warranted close attention. Analysts agreed that SHIB must hold above its breakout level and establish a higher high to confirm a sustained recovery.
Source: https://coinpaper.com/12667/shiba-inu-breaks-key-trendline-as-momentum-builds
