The cryptocurrency market is experiencing a calm day, with most coins trading sideways. Shiba Inu (SHIB) is no exception, with its price declining by 0.47% in the last 24 hours and 5.12% over the past week. Despite this, some analysts believe that SHIB is on the verge of a breakout.

According to the hourly chart, SHIB is approaching a local resistance level of $0.00001715. If buyers can maintain their momentum, a breakout could occur, leading to a move towards the $0.00001750 zone. However, on the bigger time frame, neither bulls nor bears are dominating, suggesting that any sharp moves are unlikely in the next few days.

From a midterm perspective, SHIB's decline continues, with no reversal signals in sight. If buyers lose the $0.000016 area, the accumulated energy could lead to a breakout to the $0.000014 range. Currently, SHIB is trading at $0.00001704.

Denys Serhiichuk, a seasoned trader and market analyst, believes that SHIB's accumulation period may be coming to an end. With over five years of trading experience and a deep understanding of both technical and fundamental market analysis, Serhiichuk's predictions are worth considering.

In conclusion, while SHIB's short-term prospects may seem bleak, the midterm outlook is more promising. If buyers can hold their ground and push the price above the local resistance level, a breakout could occur, leading to a move towards higher prices. However, if the bears take control, SHIB could fall to the $0.000014 range. As always, investors should exercise caution and conduct thorough research before making any investment decisions.