Expert Suggests SHIB Is Now Poised To Break Free From Three-Year Downtrend

Expert Predicts Shiba Inu's Breakout from Three-Year Downtrend

A prominent technical analyst has forecasted an imminent breakout for Shiba Inu from its protracted three-year downtrend. The analyst believes SHIB has the potential to reach its all-time high soon.

In December, Shiba Inu exhibited signs of improvement after a sluggish November performance. While other meme coins, like Dogecoin and BONK, surged, SHIB managed a modest gain to $0.00003.

Analysts anticipate an end to SHIB's subdued trend. In a recent post on , "The Krypto King" emphasized that SHIB's downtrend since late 2021 is close to its conclusion. He predicts a significant upswing, boosting SHIB's value by over 178%, potentially reaching its all-time high of $0.00008645.

On the day of this prediction, SHIB briefly reached $0.000038 but later dipped, currently trading around $0.00003. Nonetheless, it has gained 15% weekly, outperforming other meme coins.

Analysts speculate that Ethereum's recent bullish performance may influence SHIB's upward trajectory. Market observers note that Ethereum's rise past its $4,000 resistance could indicate a similar trend for Shiba Inu.

To surpass its all-time high, SHIB must overcome its resistance at $0.000033. The community analyst SHIB KNIGHT predicts a gradual upward trend, initially targeting $0.00004, with the potential for further gains.

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