Expert Says Shiba Inu in Accumulation Phase, Targets Breakout to $0.000037

A notable enthusiast and market analyst has predicted an imminent price breakout for Shiba Inu as the token accumulates at higher levels. In an analysis on November 29, SHIB Knight insisted that Shiba Inu has been consolidating for some time now. This accumulation phase has ensured it has lagged other top assets in market performance. For context, Shiba Inu's market cap ranking has dropped three places, mainly due to the remarkable gains of assets like Avalanche (AVAX), Toncoin (TON), and Stellar (XLM). These gains have outpaced Shiba Inu's performance, pushing the meme coin down from its earlier 11th position. However, SHIB Knight argued that the accumulation was perfect. He implied that high-level consolidation in this manner precedes an explosive outbreak to price discoveries. Analyst Speculates a 42.6% to $0.000037 SHIB Knight predicted that the second-largest meme coin by market cap targets a breakout from the accumulation zone. His commentary suggests that Shiba Inu's next uptrend after the breakout would be a 42.6% surge to $0.000037. Meanwhile, another analyst is observing the imminent Shiba Inu breakout. Market commentator Nebraskangooner stated he is monitoring a likely breach in Shiba Inu's symmetrical triangle range. The commentator shares a SHIB/USDT 1D chart in a Friday tweet showing that the leading meme coin is on the verge of a breakout. He expects a breakout from the price channel to spur Shiba Inu to higher prices.

Nonetheless, Shiba Inu closed above the symmetrical price pattern on Saturday, suggesting an imminent price uptick. Notably, the analyst did not state any price target following the breakout. Shiba Inu Price Analysis Meanwhile, a TradingView SHIB 1D analysis shows that the relative strength index (RSI) stands at 61.61. This indicates that Shiba Inu can still surge considerably before entering the overbought region above 70. Notably, the MACD indicator seems to be flashing a buy signal. The MACD line at 0.00000133 and signal line at 0.00000147 are itching closer to a bullish crossover, supporting the analyst's expectations of a price appreciation.

At the time of writing, Shiba Inu trades at $0.00002616 with a market cap of $15.43 billion.