Shiba Inu Price: Could a Breakout Signal a Rebound?

Shiba Inu (SHIB) has faced significant challenges lately, mirroring the broader crypto market downturn. A recent drop below a crucial support level led to further losses, with SHIB down about 24% in the past month and losing more than half its value this year. However, some traders believe a rebound is imminent. TradingView analyst Saraah has provided insights into SHIB’s price action, highlighting a potential breakout from a descending triangle pattern. This trend structure, which has been pressuring the price lower since mid-October, often resolves in a strong move – either upwards or downwards. [
The chart shows SHIB nearing the end of the pattern.
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