Dogecoin

Shiba Inu

<ul><li>Shiba Inu shows a 97% price correlation with Dogecoin over the past 60 days.</li><li>Shiba Inu has an 87% price correlation with Bitcoin and 60% with Ethereum.</li><li>WazirX hack led to $100M in Shiba Inu stolen, causing a significant price drop.</li></ul>Shiba Inu (SHIB), a prominent meme coin, has demonstrated a strong correlation with Dogecoin (DOGE) in recent months. This trend is noteworthy for investors who monitor meme coin movements closely. The <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group&#61;financials&amp;chart&#61;correlations" rel="noopener noreferrer nofollow">data</a> from IntoTheBlock, a blockchain analytics platform, reveals a significant 97% price correlation between SHIB and DOGE over the past 60 days. This high correlation highlights the interconnectedness of these two cryptocurrencies, driven by similar market forces and investor behavior.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfUQv-6pdidX7EQKblTnAvRDSpSlhlVhi9rs02IHPUP8IELFGdI5E3F_3PGVHBWlbQlXwAt46zHw_BEw_lBgFf75T-pIpH0BYeLDgA8yCc2sgMJVL-gxBDtezImo7ntA8z7Xskfo1SPZkHYVUQBCBkMxMY?key&#61;VVk8UxIrXJIDc5AuA1-NGQ" />The recent analysis underscores that SHIB and DOGE often move in tandem. When Dogecoin&#39;s price experiences an uptick, Shiba Inu’s price tends to follow suit. This pattern suggests that market participants view both coins similarly, reacting to news and market events in a correlated manner. Despite SHIB’s mission to dethrone <a href="https://cryptotale.org/bitcoin-surges-above-65k-xrp-solana-and-dogecoin-lead-crypto-gains/" rel="noopener noreferrer nofollow">Dogecoin</a> as the leading meme coin by market cap, their price movements remain closely linked. The 97% correlation over 60 days is the highest among the cryptocurrencies listed, emphasizing their unique relationship.<a href="https://cryptotale.org/shiba-inu-and-dogecoin-prices-show-strong-97-correlation-over-60-days/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Shiba Inu and Dogecoin Prices Show Strong 97% Correlation Over 60 Days

CryptoTale

Άλλα άρθρα που δημοσιεύτηκαν στις 20 Ιουλ 2024

WadzPay Community Observe Bullish Chart Signals Expecting Massive Upward Trend for WTK Price Afte...

Your Golden Ticket to Retire with ONLY 5 Altcoins!

MoonBag Staking Rewards: 88% APY Beats Kangamoon's Volatility and Brett's Price Drop

MoonBag’s Community Power: Crushing VeChain with Transparency and Innovation

Explosive Growth: Top 5 Altcoins to Watch in 2024

Academic Labs Opens Crypto Trading Season with Vanilla Finance Collaboration

Join our free newsletter for daily crypto updates!