Shiba Inu’s marketer, Lucie, has recently emphasized the importance of monitoring the performance of SHIB in relation to Bitcoin, as recent trends suggest a significant correlation between the two cryptocurrencies.
Lucie, a marketing specialist for the Shiba Inu project, has highlighted the need for SHIB enthusiasts to closely track the performance of the meme coin, particularly in relation to Bitcoin, the leading cryptocurrency.
This advice comes as both digital assets have displayed similar price movements during a market-wide recovery, indicating a close relationship between the two.
Analyzing the performance and correlation between SHIB and BTC, Lucie shared a tweet on X, providing visual data that shows the parallel trends between Shiba Inu and Bitcoin from April 22 to 24.
During this period, Bitcoin experienced a 2.68% increase, pushing its price to $66,020, while SHIB also rose by 3.09%, reaching $0.00002651.
This synchronized growth followed a significant market dip on April 13, which saw Bitcoin drop to $60,919 and SHIB to $0.00001853, from which both assets made impressive recoveries.
The significance of monitoring SHIB alongside BTC lies in the well-documented connection between Bitcoin and altcoins like Shiba Inu. Bitcoin often sets the pace for the broader crypto market. In the past 24 hours, Bitcoin has fluctuated around the $60,000 mark with a 2.03% decline, while SHIB has also seen a 1% decrease.
Lucie’s emphasis on the correlation between SHIB and BTC aims to prepare the Shiba Inu community for potential movements driven by overall 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 experience significant gains if Bitcoin enters a bullish phase, potentially reaching new milestones.
Forecasts remain optimistic, with some speculating that SHIB could climb as high as $0.00013856 or even $0.00014, particularly if Bitcoin reaches the anticipated thresholds of $150,000 or $200,000.
