Experts currently believe that Shiba Inu is in the accumulation phase.

An expert currently believes that Shiba Inu is in an accumulation phase, aiming for a breakout target of 0.000037 dollars. A famous market analyst and Shiba Inu enthusiast has predicted that the cryptocurrency price has the potential to skyrocket as it enters a high accumulation phase. In a detailed analysis published on November 29, analyst named SHIB Knight emphasized that Shiba Inu has developed significantly. This accumulation phase has caused the token to lag behind other high-performing assets in the market. To understand more, the market capitalization ranking of Shiba Inu has dropped three places, mainly due to the impressive rise of cryptocurrencies such as Avalanche (AVAX), Toncoin (TON), and Stellar (XLM). These assets have skyrocketed, causing Shiba Inu to drop from its previous 11th position in the market rankings. However, SHIB Knight still believes that this accumulation phase is beneficial. He believes that such a high level of consolidation often occurs before a significant price breakthrough, paving the way for a significant price increase. Analyst price prediction SHIB Knight predicts that after breaking out of the accumulation zone, the price of Shiba Inu could increase by about 42.6%, aiming for a price of $0.000037. This price increase prospect shows confidence in the potential growth of the meme coin. In addition, another analyst, known by the name Nebraskangooner, is also closely monitoring the breakthrough. He notes the possibility of breaking the symmetrical triangle pattern in the price movement of Shiba Inu. In a tweet, he shared the SHIB/USDT daily chart, emphasizing that this token is on the verge of a breakthrough that could lead to a higher price.

Technical index Recently, the price of Shiba Inu has closed above the symmetrical triangle pattern, indicating the possibility of a price increase soon. Although the analyst did not specify the target after the breakthrough, technical indicators still show promising prospects.

According to TradingView's analysis, the relative strength index (RSI) of Shiba Inu is currently at 61.61, indicating that there is still room for growth before reaching the overbought zone above 70. In addition, the MACD indicator is signaling a potential price increase cross, with the MACD line at 0.00000133 and the signal line at 0.00000147, further reinforcing expectations of price increase. As of now, Shiba Inu is trading at $0.00002688, with a market capitalization of about $15.43 billion, reflecting its position as the second largest meme coin by market capitalization.