Shiba Inu decouples from the market; is this catalyst why?

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ShibaInu decouples from the market; is this catalyst why?

Shibarium’s hype was also responsible for turning things bullish.has decoupled from the crypto market, as its daily and weekly charts were painted green. Unlike most cryptos, SHIB managed to push its price up in a bearish market. A catalyst for this growth could be the upcoming ETH Toronto event, which will include announcements regarding its much-hyped Shibarium.While most of the crypto market remained under the bears’ influence, Shiba Inu decoupled.

At the time of writing, it was trading at $0.000008651 with a market capitalization of over $5.1 billion, making it the 14th largest crypto. Along with the price, SHIB’s 24-hour trading volume also shot up by 34%, which was bullish. A look atThe Exponential Moving Average Ribbon displayed a bullish crossover a few days ago. Moreover, Shiba Inu’s Relative Strength Index gained upward momentum.Shiba Inu remain whales’ favorite

Interestingly, whale activity around SHIB also increased, as evident from the spike in its whale transaction count. Moreover, Whalestats’revealed that the memecoin was also the top traded token among the top 100 Ethereum whales in the last 24 hours. Thanks to the price uptick, the memecoin’s MVRV Ratio also increased. However, it was surprising to see a dip in SHIB’s social volume, considering its immense popularity. The metric registered a dip over the last few days.Source: Santiment

 

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