Shiba Inu (SHIB) Separates From Bitcoin at Last

 Shiba Inu (SHIB) Separates From Bitcoin at Last

Shiba Inus are traveling against the direction of Bitcoin.

October has not yet lived up to its reputation as a bull market for cryptocurrencies in general. Because market instability hindered a consistent price increase, the price of Bitcoin and the majority of altcoins has fluctuated. In the final days of "Uptober," Shiba Inu (SHIB) is poised to make unexpected moves in the cryptocurrency market.

Decoupling Shiba Inus from Bitcoin

The dog-themed meme coin has separated from Bitcoin, the most popular digital currency in the world, according to data. Shiba Inu's market value has increased by 29.66% to $203.57 million in the last day. Similarly, SHIB has entered rebound mode after a week of price fall, rising by a noteworthy 6.03% to trade at $0.00001706.

After it bounced off the $0.0000160 support level to hit $0.00001605, Shiba Inu had its turning point. Nonetheless, the market's continued optimism helped SHIB gain traction as more investors placed bets on the meme coin's price recovery.

Additionally, Bitcoin has recovered from market turbulence and is again trading back into the $68,000 range. After many predicted a rise to $70,000 last week, the currency had fallen. SHIB is experiencing a more ambitious rally based on price increase and volume, even if BTC has recovered to $68,584.

Shiba Inus could advance with the help of the golden cross.

According to market experts, if SHIB can maintain its present speed until November, the dog-themed meme coin may achieve new milestones. SHIB is gradually getting closer to a possible golden cross, which might indicate significant price gains for the meme coin, according to U.Today.

Analysis shows that SHIB's 50-day EMA has moved in close proximity to its 200-day EMA. In the golden cross setup, this is still a critical indicator that, if met, might spark fresh interest in the coin.

While the market waits for the price of Shiba Inus to increase significantly, a whale investor has expressed some reservations about the ecosystem. Shiba Inu is no longer a part of the "trillionaire club," and its volume has dropped to 895.12 billion SHIB as a result of the whale's transaction. The public, however, sees this as a "temporary setback" that they hope to overcome.