Several analysts in the crypto community have been paying attention to Shiba Inu lately. The well-known trader SHIB KNIGHT recently shared a quite interesting technical analysis, indicating that SHIB could be ready for an upward move. In his SHIB/USDT chart, he showed the token trading around $0.00000641, suggesting an interesting reversal structure after bouncing from local lows.

What catches attention in SHIB KNIGHT's analysis is how the price has formed a series of higher lows after the previous drop. Recent candles show renewed buying pressure, approaching again toward $0.00000650. In his projection, the analyst sees potential to reach the range of $0.00000750 to $0.00000800 if momentum is maintained.

But there is more context. According to recent reports, SHIB burning activity showed a notable jump, with nearly 839,000 tokens permanently removed in a single day. Although the number may seem small in absolute terms, the data adds to the narrative of supply reduction that many Shiba Inu followers constantly mention. So far, approximately 410.75 trillion tokens have been burned, representing 41% of the maximum supply.

Another analyst, Vuori Trading, offers a different perspective. They suggest that SHIB could be in the final stages of accumulation, and although the price has been discouraging recently, that might be reinforcing long-term positioning. Vuori Trading sets a rather ambitious target of $0.00014, which would mean a 22x increase from recent lows.

So, you have SHIB KNIGHT with his short-term technical analysis, the burn data supporting the supply reduction narrative, and Vuori Trading seeing accumulation. Whether all this materializes will depend on whether the overall market remains favorable and if there is enough sustained buying pressure. For now, SHIB KNIGHT and other observers are watching to see if that breakout truly happens.