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

Інші статті, опубліковані 20 лип. 2024 р.

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