Shiba Inu is continuing a compression pattern above a key support level, and could rise about 26 percent if it breaks above a descending trend line, an analysis said.

U.Today, a blockchain media outlet, reported on Sept. 29 that crypto trader SHIB Knight said Shiba Inu’s three-hour chart is compressing above a major support level and that whether it breaks above the top of a descending trend line could determine the next direction.

Shiba Inu is currently moving between lower support and an upper descending trend line, with the trading range narrowing. The analysis also raised the possibility of another drop to $0.00000575 before an upside break.

SHIB Knight said Shiba Inu could climb about 26 percent to the $0.00000720 to $0.00000730 range if it clears the descending trend line. He said Shiba Inu must first hold the key support level and then break the trend line. If those conditions are met, the move higher could unfold quickly.

Shiba Inu rose 3.17 percent over the past 24 hours to $0.00000589 on the day. It rebounded after confirming support near $0.00000550 following a drop the previous day. That makes both defending support and breaking the trend line important in the short-term price structure.

Across the broader market, signs are also emerging of renewed inflows into altcoins. Glassnode said spot traders are turning their attention from bitcoin to altcoins. Altcoin spot trading volume has approached about four times that of bitcoin, the highest level since September 2025. Glassnode said demand for such high-risk assets has coincided in the past with localized bitcoin peaks.

On-chain indicators also pointed to the same trend. CryptoQuant assessed that altcoins could be entering a more important phase. Total2, an index tracking altcoin market capitalization, has absorbed more than $371 billion since June 2026, marking a 45 percent increase in a few months. That suggests inflows are spreading across the broader altcoin market rather than concentrating in specific tokens.

Technical patterns for altcoins listed on Binance have also shifted. As recently as August, 80 percent of Binance-listed altcoins were trading below their 200-day moving average, but only 13 percent now remain below that line. That indicates investors are more strongly reflecting a broader recovery in the altcoin trend.

Against that backdrop, Shiba Inu is aligning its individual chart structure with broader market fund flows. Still, to keep short-term upside expectations intact, it must maintain support confirmed around the $0.00000550 level and then deliver an actual break above the descending trend line. Until the direction is set, the potential for increased volatility within the narrowing range is expected to remain in focus.

$SHIB 3H chart is compressing right above support. A breakout can open the door for a 26% move toward 720–730 Hold the support. Break the trendline. Then things can move fast. pic.twitter.com/DuGmWFNBqF