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Return Of The Top Dog: Binance Whales Are Betting That The Shiba Inu Price Will Blow Up

Most Binance whales are currently betting on a rally for the Shiba Inu price, providing a bullish outlook for the meme coin. This comes as the crypto market looks to recover amid easing tensions between the U.S. and Iran following the two-week ceasefire. 

Most Binance Whales Are Betting On A Shiba Inu Price Rally

Binance data show that top traders on the exchange with the largest margin balances are going long on the meme coin, with 63% betting on a Shiba Inu price rally. Meanwhile, only 37% of them are short on SHIB, betting on a move to the downside. As a result, the long/short ratio is at 1.69, signaling how bullish these top traders are on the foremost meme coin. 

Shiba Inu

Furthermore, the top Binance traders by position are also mainly long SHIB and betting on a Shiba Inu price rally. Almost 71% of these traders are long SHIB, while 29% are short, with a long/short ratio of 2.39. It is worth noting that the long/short ratio of the top traders by accounts and positions has climbed since the U.S. and Iran announced the two-week ceasefire. 

At the same time, most Binance traders are bullish on the Shiba Inu price, with 60% of accounts long the meme coin and 40% short. The long/short ratio is at 1.5, rising as SHIB rebounded yesterday following the announcement of the two-week U.S.-Iran ceasefire. While most traders are bullish on SHIB, activity in the derivatives market is on the decline. 

CoinGlass data shows that Shiba Inu’s trading volume has crashed by over 22% to $138 million, while the open interest is down over 4% to $54 million. This signals that most traders are still on the sidelines even as the market recovers. 

SHIB Primed For The Next Expansion

In an X post, crypto analyst Crypto Lens stated that the Shiba Inu is primed for the next expansion. He noted that SHIB is holding a 5-year demand zone strongly and that it has a history of long accumulation followed by explosive moves, including rallies of over 1,000%. Based on this, the analyst declared that the structure appears primed for the next expansion after another 550 days of tight consolidation. 

Crypto analyst Vuori also predicted that the Shiba Inu price could soon see a parabolic rally. The analyst noted that SHIB is still in the accumulation phase, which could last till the fourth quarter or first quarter of 2027, but that the downside risk is minimal at this point. He added that the projected gains are “monumental.”

At the time of writing, the Shiba Inu price is trading at around $0.000005883, down over 4% in the last 24 hours, according to data from CoinMarketCap.

Shiba Inu

from Bitcoinist.com https://ift.tt/9cbSruR
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