Superr_Steve

DOGE and SHIB correlation starting to break?

BITTREX:DOGEUSD   Dogecoin
Starting in November 2021 DOGE and SHIB started having a very close correlation (Don't even ask me for my conspiracy theories on why). However, the past week we are seeing a little bit of a break from the trend correlation, most likely due to news of Elon joining the Twitter board and hinting at more DOGE adoption. We saw the DOGE and SHIB trend correlation break for a little bit in late January and early February 2022, but SHIB quickly was brought back up to match closer. I'll be keeping an eye on whether they continue to break correlation. It doesn't make sense to me why they are so correlated since they have extremely different use cases, so I hope to see the correlation break.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.