Cryptocurrency analyst Ali Martinez shared another token he has been following the rise of Shiba Inu in his statement.
According to crypto analyst Ali Martinez, there is a strong positive correlation of 0.74 between SHIB and DOGE. This means that when the price of Shiba Inu moves, Dogecoin usually moves in the same direction.
According to crypto analyst Ali Martinez, there is a strong positive correlation of 0.74 between SHIB and DOGE. This means that when the price of Shiba Inu moves, Dogecoin usually moves in the same direction.
” 1/2 Data from @intotheblock shows a strong positive correlation of 0.74 between $SHIB and $DOGE. This means that when #SHIB’s price moves, #DOGE often follows in the same direction.” – @ali_charts
Santiment, a crypto analytics firm, also assessed SHIB in its latest report. The report notes that altcoins are slightly bullish today, but most mid-cap and small-cap coins are still struggling to post any gains on the weekly timeframe.
” Prices are mildly up for #altcoins today, but most mid & small caps are still struggling to gain any traction on the weekly timeframe. Many traders have shifted their focus to #ShibaInu, as the #memecoin is one of the few bright spots. $SHIB is +19% with rising social volume.” – @santimentfeed
According to Santiment, many traders have shifted their focus to SHIB.
Santiment reports that Shiba Inu is up 19% with increasing social volume, indicating a high level of interest and engagement from the crypto community.
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