Shiba Inu Price Eyes 26% Surge as Crypto Trader Sees Breakout Opportunity
Crypto trader 'SHIB Knight' has identified a potential breakout opportunity in Shiba Inu, suggesting that the token's price may surge by as much as 26% if it breaks above a key trendline. According to SHIB Knight, the three-hour chart for Shiba Inu is compressing right above support, creating a narrowing range that could soon resolve with a larger move.
The current price of $SHIB has been holding at around $0.00000589, after finding support at $0.00000550 following yesterday's drop. However, in order for the breakout to occur, Shiba Inu must first hold critical support and then achieve a breakout past the trendline.
Meanwhile, Glassnode data indicates that spot traders are turning to altcoins, with Shiba Inu being part of this class. The total spot volume for altcoins is now close to four times that of Bitcoin, the highest since September 2025. This surge in demand may be a sign that altcoins are entering a more critical phase.
On-chain data from CryptoQuant shows that altcoins have recently attracted significant capital, with Total2 (representing altcoin market cap) absorbing over $371 billion since June 2026, a 45% increase over just a few months. Additionally, the number of altcoins listed on Binance trading above their 200-day moving average has increased significantly, from 80% below it in August to only 13% today.