Shiba Inu surges 7.5% and breaks correlation with Dogecoin while it is trading in red zone
The SHIB quote diverged from DOGE and, trading in a negative correlation to the leader of the “Dog” coin sector, rose 7.5%. The difference in price action between the Shiba Inu and Dogecoin, and in favor of the former, was unpredictable.
Given the narrative that emerged in the last week, with DOGE pumped up by news of Elon Musk’s purchase of Twitter, and SHIB and other similar tokens moving after it on inertia, it seemed that with the initial hype fading, strong surges would not be expected. An even more unlikely scenario would be that the DOGE price would fall by 0.7% and the SHIB price rise by 7.3% in the meantime, but that is exactly what is happening.
What is SHIB Price Trigger?
While DOGE price action is the most obvious and strongest influencing factor on SHIB quotes, the Shiba Inu is building its own story as a standalone project as well.
So the main incentive for SHIB investors, apart from the dream of getting rich, is the expected release of the project’s own Layer 2 solution, Shibarium. The innovation is expected to take the Shiba Inu ecosystem to a whole new level and expand the use of all of its tokens many times over.
Shiberium still remains the main trigger, after Shiba Inu has already burned about 50% of the SHIB supply, launched its mobile game and reached 2.2 million address holders.
