Amid April’s return of risk appetite to the crypto market — at least judging by the start of the week — Shiba Inu has once again attracted the attention of large players. According to data from Binance, there has been a sharp surge in optimism, with 69% of top traders — accounts holding the largest balances on the exchange — maintaining long positions on SHIB.
Over the past few days, SHIB’s price has shown a level of resilience that is unusual for meme coins, holding steady at the $0.000006 level, which serves as a key support zone. As long as the price holds this level, the probability of a bullish breakout remains higher than that of a breakdown.
Why “smart money” on Binance is heavily long on breakout
The fact that over 60% of top traders have shifted into the bullish camp on Shiba Inu can be explained by the view that SHIB acts as a beta play — essentially a proxy for ETH — since it is the largest meme coin on the Ethereum blockchain. If the price of ETH rises, SHIB is expected to deliver outsized gains, albeit with higher risk.
At the same time, the current price positioning, price behavior and broader market context suggest there are no active negative narratives. Previous triggers, such as the alleged involvement of North Korean hackers or the temporary distancing of key figures like Shytoshi Kusama, have already been priced in.
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As a result, SHIB is now trading largely on technical factors, which, in the eyes of large players, makes it suitable for accumulation at current levels.
This positioning of two-thirds of top Binance traders building long exposure on SHIB suggests that smart money is anticipating a near-term impulse. If the $0.000006 level holds, the next potential target could be around $0.000008 per token.
