Shiba Inu Trendline Break Triggers 26% Price Target
Crypto trader '$SHIB Knight' has identified a potential trendline break in Shiba Inu's price action, which could set off a significant move. The $SHIB 3H chart is compressing right above a key support level, indicating that volatility may be imminent. This compression creates a narrowing range that could soon resolve with a larger move.
The possible outcome of this trendline break is a 26% increase in price, taking Shiba Inu to $0.00000720-$0.00000730. However, there is also a possibility of a downside move to $0.00000575 before resolving higher.
Shiba Inu's price has found support at $0.00000550 after yesterday's drop and is currently up 3.17% in the last 24 hours to $0.00000589. For this trendline break to occur, Shiba Inu must first hold critical support before breaking through the descending trendline.
Meanwhile, spot traders are turning their attention to altcoins, with total spot volume for this class of cryptocurrencies running close to four times that of Bitcoin since September 2025. This increased demand has led to a significant share of capital being absorbed by altcoins, with over $371 billion pouring in since June 2026.
On-chain data suggests that altcoins may be entering a more critical phase, with Binance listing over 80% of altcoins above their 200-day moving average. This trend indicator suggests that the market is shifting towards higher-risk assets, which often precedes local tops in Bitcoin.