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TheCryptoBasic
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Binance Top Traders Remain Bullish on Shiba Inu Despite Latest Dip. $SHIB
According to the latest figures, Shiba Inu top-trader accounts on Binance hold 52.01% net long versus 47.99% net short. This estimate pushed the long-to-short ratio to 1.08.
While the gap is narrow, it still indicates a mild preference for the SHIB token among experienced traders. Moreover, the split suggests that the group of traders is anticipating a potential rebound rather than placing strong bets against SHIB.
However, a closer look at open positions reveals a more cautious stance. By position size, top traders allocate 48.82% of their Shiba Inu exposure to long positions and 51.18% to shorts, resulting in a ratio of 0.95. This imbalance shows that despite the bullish tilt in sentiment, traders are limiting capital deployment on the long side.
On October 10, the token plunged from around $0.000012 to a low of $0.000007448, marking one of its sharpest drops during the period.
Since then, the downtrend has continued. SHIB has slipped below its October 10 low, reaching $0.000007011 on December 19, before staging a modest rebound to about $0.000007152.
It is worth noting that before yesterday’s correction, Binance’s top-trader accounts were strongly bullish, with 62.3% positioned long and just 37.7% allocated to shorts. Also, open positions among these traders leaned decisively long, accounting for 67.9% of exposure, compared with only 32.1% on the short side.
However, the latest dip across the broader market, which pushed SHIB down by 2.1% over the past 24 hours, triggered a swift shift in positioning. In response, short positions briefly overtook longs, driving the long-to-short ratio down to 0.95.
Despite this, sentiment among Binance’s top traders remains cautiously bullish. Long accounts still make up 52.01% of the group, while shorts account for approximately 47.99%, suggesting confidence has softened but not fully reversed.
