Shiba Inu Breaks Above Long-Term Downtrend Line

A recent analysis suggests that Shiba Inu may be entering a new phase of growth after breaking above a long-term downtrend line.

Crypto Sheriff, a cryptocurrency analyst, believes that this break is not just a simple rebound but the start of a recovery phase.

The downtrend line has been in place for about 5 years, and Shiba Inu had been trading below it during that time, with some periods of consolidation near the bottom.

Crypto Sheriff divides Shiba Inu's path into four phases: decline, correction, recovery, and a 'rocket phase'. He believes that the recent break above the downtrend line may be the start of the recovery phase.