The marketing expert for Shiba Inu, Lucie, has recently emphasized the importance of closely monitoring the performance of SHIB in relation to Bitcoin. Recent trends have shown a significant correlation between the two cryptocurrencies, with SHIB closely mirroring Bitcoin’s price movements.
Lucie’s advice comes as both SHIB and BTC displayed similar recovery patterns following a market dip. This suggests that their performance trajectories are closely intertwined, making it crucial for SHIB enthusiasts to stay vigilant.
To support her analysis, Lucie shared a tweet with visual data that highlights the parallel trends between Shiba Inu and Bitcoin from April 22 to 24. During this period, Bitcoin experienced a 2.68% increase, reaching a price of $66,020. Similarly, SHIB rose by 3.09%, reaching $0.00002651.
This synchronized growth followed a significant downturn on April 13, where both Bitcoin and SHIB experienced a drop in value. However, both assets were able to recover impressively.
The connection between Bitcoin and altcoins like Shiba Inu is well-documented, with Bitcoin often setting the pace for the broader crypto market. Lucie’s call to attention on the correlation between SHIB and BTC aims to prepare the Shiba Inu community for potential movements prompted by overarching market trends, especially with Bitcoin’s halving event on the horizon.
Based on historical patterns and the current cycle, predictions within the crypto community suggest that SHIB could see significant gains if Bitcoin enters a bullish phase. Some forecasts even speculate that SHIB could reach new milestones, such as $0.00013856 or $0.00014, especially if Bitcoin reaches the anticipated thresholds of $150K or $200K.