Shiba Inu may be approaching a significant technical turning point after breaking above a long-term descending trendline that has pressured SHIB since 2024. According to crypto analyst CryptoNuclear, Shiba Inu traded beneath the descending trendline after reaching a multi-month high of $0.00003343 in December 2024.
Shiba Inu long-term proponent Mazrael has pushed back against claims that SHIB could take an extremely long time to reclaim its all-time high (ATH). According to Mazrael, Shiba Inu only needs to eliminate one zero from its current price to return to its previous ATH.
As Shiba Inu attempts to sustain its recovery, investors are increasingly watching what it would take to join the top ranks of SHIB holders. According to CoinLore data, investors need at least 380 million SHIB tokens to enter the top 1% of the Shiba Inu rich list.
Crypto analyst Crypto Sheriff believes Shiba Inu has entered a new phase of its market cycle and could soon transition into the rocket phase. According to Sheriff, Shiba Inu has spent roughly five years trading below a descending trendline, reflecting a prolonged period of weakness.
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