As the month of April ushers in an insufferable wave of risk appetite (it appears even the crypto world can’t resist the temptation), Shiba Inu has once again wormed its way into the good graces of the crypto elite. According to Binance’s data – which one assumes is accurate because, well, it’s Binance – a staggering 69% of top traders (the ones who can afford yachts) are holding long positions on this infamous meme coin. Yes, Shiba Inu, the same digital curio that was once dismissed as a mere joke, is now attracting the sort of enthusiasm usually reserved for legitimate currencies.
In recent days, SHIB has demonstrated a level of fortitude you wouldn’t expect from something that looks like the crypto equivalent of a glorified novelty toy. With its price stubbornly clinging to the $0.000006 mark, it seems determined to hold steady, like a drunken man who insists he is perfectly fine to drive. In the world of meme coins, this is quite a feat. As long as SHIB manages to avoid the dreaded plunge into oblivion, the chance of a breakout – not to mention a potential windfall – remains somewhat higher than its likelihood of total collapse.
Why “Smart Money” on Binance is Heavily Long on Breakout
The reason behind this sudden shift in sentiment? It’s simple, really. SHIB is now viewed as a proxy for Ethereum, which, in turn, means it’s like Ethereum’s younger, slightly less credible cousin. If ETH goes up, SHIB – the largest meme coin on the Ethereum blockchain – is expected to deliver returns that are, shall we say, excessively thrilling. Of course, this comes with the kind of risk that would make even seasoned gamblers clutch their pearls.
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And lest we forget, SHIB is now trading almost entirely on technical factors. The market is so technical, in fact, that one might start believing it’s all a grand plan carefully devised by the crypto overlords. Previous distractions like supposed North Korean hackers or the enigmatic departure of key figures like Shytoshi Kusama have already been priced in – yes, that drama is over. Everyone has moved on, as we are all wont to do when the next shiny object catches our attention.
With a majority of Binance’s top traders now positioning themselves for a potential rise, it seems “smart money” is betting on a short-term upswing. If the $0.000006 level holds firm, the next target might be $0.000008 per token, which, let’s be honest, still sounds absurd. But when has crypto ever made sense?
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2026-04-06 19:02