$SHIB Breaks Out of Long-Term Trendline

Crypto analyst Crypto Sheriff believes Shiba Inu has entered a new phase of its market cycle, potentially signaling a transition into what he calls the 'rocket phase'. This comes after the token broke above a long-term descending trendline, suggesting it may have moved beyond decline and consolidation stages.

The chart shared by Sheriff illustrates this progression. $SHIB entered a prolonged decline after reaching its all-time high of $0.00008845 in October 2021. It then spent months consolidating near its lows before recently breaking above the descending trendline.

Although the token has surrendered some gains and is currently trading around $0.0000053, Sheriff maintains that this does not invalidate his recovery thesis. Instead, he views the broader market structure as evidence that $SHIB could be preparing for another significant move.