Shiba Inu (SHIB) Has Strongest Correlation With Uniswap (UNI) in Last 30 Days

Correlation between $SHIB and $UNI is unusually high, but it could be tied to Shibarium

. Uniswap is a decentralized exchange built on the Ethereum blockchain that allows users to swap ERC-20 tokens without the need for a central authority.

The UNI token is the native token of the Uniswap protocol and is used for governance and to incentivize liquidity providers. Uniswap has become one of the most popular decentralized exchanges, with billions of dollars in daily trading volume.The reason behind the correlation between SHIB and UNI could be the popularity of the SHIB token in the DeFi field, where Uniswap is a major player.

The most recent price performance of SHIB has been mixed. While the cryptocurrency saw a massive surge in popularity and price earlier this year, it has since experienced a significant price correction. As of this writing, SHIB is trading at around $0.000013, down from its all-time high of $0.000088.

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