$SHIB Breaks Trendline, Enters Potential 'Rocket Phase'

Crypto analyst Crypto Sheriff believes Shiba Inu has entered its 'rocket phase' after breaking above a long-term descending trendline. According to Sheriff, $SHIB spent roughly five years trading below this line, reflecting prolonged weakness and consolidation near its lows.

The token's market structure has changed, argues Sheriff, who notes that $SHIB has broken above the trendline and entered a recovery phase. This progression is illustrated in the chart shared by Sheriff, which shows $SHIB entering a decline after reaching its all-time high of $0.00008845 in October 2021.

With this breakout, Sheriff believes the recovery phase may not be the final stage of the current cycle. Instead, he expects $SHIB to eventually transition into what he describes as the 'rocket phase,' which could trigger a much stronger price advance.