Shiba Inu (Shib) shows a strength renewal, increasing by more than 16% in the last week of April. Despite a difficult year for coins, Shib has resisted better than big peers like Bonk, Pepe and Doge.
Its strong correlation of 0.82 with Bitcoin suggests that it could benefit more if the BTC continues its upward trend. If Momentum is built, Shib could be ready for a major rally, potentially restoring the price levels that we have not seen since 2021.
SHIB resists better than other coins in the midst of market volatility
This year was difficult for coins overall, with 9 of the top 10 exchanges in red.
Shiba Inu is down 33.11%, but it worked slightly that other parts of major memes like Bonk, Pepe and Doge, which have undergone even deeper corrections.
Although SHIB losses are always important, its relative resilience could position it more favorably if the feeling in the sector begins to change.
If the wider cryptography market is recovered in the second quarter, Shib could benefit from the entire room in the same. The coins are known for their exaggerated movements – large capitalization coins tend to display even greater percentage gains when the cryptographic market is gathered.
However, they also tend to undergo sharper corrections when the market is weakening. If Momentum returns, Shib could be one of the first coins to react strongly to the renewed appetite of investors for the risk.
Shib could take the Bitcoin momentum because the correlation reaches 0.82
Shiba Inu is strongly in correlation with Bitcoin (BTC), currently 0.82.
Bitcoin gaining momentum for the second trimester, this strong correlation could also position SHIB for a strong rally.
In the past seven days, the BTC has increased by more than 10%, while Shib has climbed more than 16%. This suggests that Shib already reacts more aggressively to the positive action of Bitcoin.
If Bitcoin continues to increase and exceeds above the $ 100,000 mark – a level that many analysts see it possible for T2 – this could trigger new heights of all time for the wider cryptography market.
In this scenario, Shib could be one of the largest beneficiaries among the main parts even.
Given its high beta and its strong correlation with BTC, a significant escape from Bitcoin would probably amplify the gains of Shib, which makes it an important token to monitor in the coming weeks.
Shiba Inu (Shib) needs 182% rally to revisit 2021 Highs
During the last major rally, Shiba Inu displayed impressive gains, increasing by 157% between September 18 and December 11, 2024.
This increase reflected a combination of the stronger bitcoin momentum, renewed media threshing and the wider participation of retail. Shib Price has shown that once the momentum is built, its rallies can accelerate quickly, often exceeding the general market.
If SHIB is entering a new upward trend cycle, powered by the interest in parts even and the Bitcoin push, it should increase by around 182% to retest the level of $ 0.000040.
This would mark the first time that Shib will have reached this award since December 2021. Given its history of sharp rallies once the momentum enters, Shib could be well positioned if the market environment remains optimistic.
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