Shiba Inu Decouples From Ethereum in Rare Move, Dogecoin on Track

Key Points

1. Shiba Inu's correlation with Ethereum is -0.03 over the last 30 days, indicating a decoupling trend.

2. Ethereum has risen 46.6% in the past month, while Shiba Inu has declined by 5.9%.

3. Shiba Inu and Dogecoin have a strong positive correlation of 0.82, suggesting their prices move similarly.

4. Market sentiment shifts, regulatory changes, and institutional Ethereum buying may explain the divergence between SHIB and ETH.

5. Leveraged crypto positions worth over $481 million were liquidated in the past 24 hours amid market volatility.