Is the Shiba Inu Dogecoin correlation weakening? Recent data suggests it is. While the two meme coins have historically moved in tandem, SHIB continues to rally independently, signaling a potential decoupling. The previously strong connection is fraying, opening the door for distinct market trajectories. Ali Martinez, a professional crypto trader who shares some of his insights on Twitter, indicated a growing divergence.

Specifically, Data sourced from IntoTheBlock indicated that the 30-day correlation between DOGE and SHIB dropped to 0.36 today. This is a notable decrease from yesterday’s figures. This significant shift suggests Shiba Inu is forging its own path, influenced by its own community and utility developments.

It totaled a surprisingly 17.9% surge over a single week while maintaining, albeit weakly, the tether with Dogecoin [DOGE], the premunscent crypto power of a meme. Two blockchain analytics firms spot Shiba Inu’s increased influence, further solidifying the argument for a diminishing correlation.

Previously, DOGE and SHIB are 95% correlated right now. If SHIB hits $0.001 (a 7,798% jump), DOGE could hypothetically climb to $13. Analysts have floated a $10 DOGE target. However, with the weakening correlation, relying on SHIB's performance to predict DOGE's is becoming increasingly unreliable.

Keep up-to-date with the latest crypto news and analysis to navigate the evolving relationship between Shiba Inu and Dogecoin. Understand the factors driving SHIB's independent rally and make informed investment decisions in the dynamic meme coin market.