Shiba Inu Breaks Trendline, Analyst Sees Rocket Phase Ahead

Shiba Inu's five-year market slump may be coming to an end, according to a widely-followed crypto analyst. Sheriff highlighted SHIB's prolonged weakness and extended consolidation near its lows in a recent post on X.

The token has broken above its long-standing descending trendline, potentially signaling the start of a new recovery phase. According to Sheriff's chart, SHIB hit its all-time high of $0.00008616 in October 2021 before entering a prolonged downtrend and months of consolidation near its lows.

Sheriff believes SHIB's market structure has shifted dramatically, and he thinks the token could eventually enter a so-called 'rocket phase,' setting the stage for a potentially exuberant rally. His assessment is straightforward: 'Decline, consolidation, recovery, and the rocket phase.'