Shiba Inu (SHIB) Coin Is on the Brink of a Parabolic Rally, Market Analysts Predict a Potential Upside of $0.00081

Following the declaration of the US election results, the cryptocurrency market went on an overdrive with Bitcoin leading the charge. Shiba Inu, which has

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Shiba Inu (SHIB), the popular meme coin, might be gearing up for a new leg up in price, as market analysts predict a potential upside of $0.00081, which would be a staggering surge of 306% from its current price.

After the declaration of the US election results, the cryptocurrency market went into an overdrive, with Bitcoin leading the charge. Shiba Inu, which has been closely correlated with BTC’s price movements, is also riding the wave of optimism emerging from this broader market uptrend.

Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, SHIB , in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target! This target’s currently over 306% away and a push to could be of IMMINENCE!

Now, as we can observe from the above 4-hour chart, Shiba Inu has formed a Hidden Bull Divergence. This technical pattern is formed when the price makes lower lows while the Relative Strength Index (RSI) forms higher lows. This divergence often indicates an impending bullish reversal.

Moreover, the meme coin recently broke out of a consolidation phase, which further adds to the bullish case. Having said that, the token has entered the bullish phase further driven by external factors.

As we know, the recent US elections have reduced the prevailing political uncertainty, which, in turn, is prompting investors to embrace riskier assets like cryptocurrencies. This shift away from risk aversion also bodes well for SHIB.

Furthermore, the broader crypto market is gradually recovering, which bodes well for SHIB’s long-term prospects. Short-term gains could further accelerate this positive trend. Overall, investors and traders are closely monitoring SHIB’s price action, as it could be on the verge of a major breakout. While it's important to remember that the cryptocurrency market is highly volatile, the current bullish sentiment surrounding SHIB is undeniable.

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