US politician Shannon Bray continues to express his bullishness for Shiba Inu cryptocurrency, emphasizing its correlation with Ethereum.
In a recent tweet, prominent US politician Shannon Bray delves into the performance of Shiba Inu (SHIB) and its correlation with Ethereum (ETH). Sharing screenshots of Shiba Inu and Ethereum price graphs, Bray highlights the intriguing pattern where SHIB breaks away from its usual correlation with ETH.
$shib and $eth are typically in lock step. This is where my #shib bullishness comes from. I do like to see when it breaks up on its own. That's #shibarmy in action. pic.twitter.com/30tjktduj2
— Shannon Bray ? (@ShannonBrayNC) June 18, 2023
Bray asserts that SHIB and ETH are typically in lockstep, meaning their prices tend to move in sync. However, the politician expresses his bullishness for Shiba Inu by stating that he finds excitement when SHIB exhibits independent growth, decoupling from the performance of Ethereum.
The comparison of the price graphs serves as evidence for Bray’s continued belief in Shiba Inu’s potential. Recall that yesterday, as reported by The Crypto Basic, the US politician encouraged the Shiba Inu community to keep tweeting SHIB, preserving the momentum in light of the recent market recovery.
By showcasing instances where SHIB charts a different trajectory than ETH, Bray implies that Shiba Inu holds its own and can stand out in the crypto market. Notably, Ethereum experiences negative growth, while the Shiba Inu graph shows positive momentum.
Shiba Inu Unique Advantage
Shannon Bray highlighted Shiba Inu’s widespread availability in a separate thread, underscoring its listing on Robinhood, a popular trading platform, and its presence on every major exchange.
Bray argued that this accessibility sets Shiba Inu apart from other sensational cryptocurrencies. He suggests that when the crypto market experiences turbulence, the SHIB army rides the wave, leveraging the strength of the community and the coin’s broad market presence.
$shib stands above the rest. Listed on @RobinhoodApp and every major exchange. When #crypto blimps, the #shibarmy rides that wave. Currently ranked #17. #shib pic.twitter.com/PxH0mOi1N8
— Shannon Bray ? (@ShannonBrayNC) June 19, 2023
Conclusively, the North Carolina gubernatorial candidate noted Shiba Inu’s current ranking as the 17th largest crypto by market cap. Shiba Inu had fallen to 19th last week when its market cap dropped below $4 billion. However, as The Crypto Basic recently reported, SHIB has outranked Avalanche (AVAX) and Wrapped Bitcoin after reclaiming the $4 billion market.