Shiba Inu Burns Crash 75% In 24 Hours: What Is Going On?

Benzinga_recent_news04-07

Shiba Inu (CRYPTO: SHIB) 24-hour burns crashed 75% after spiking to 33 million tokens on April 4, yet 68% of the largest Binance whales remain long with a 2.12 long/short ratio. The 7-day burn chart ...

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One spike doesn’t move the needle on a supply measured in quadrillions.\nData from Binance’s Top Trader Long/Short Ratio by positions shows a ratio of 2.12, meaning for every $1 short position, there is a $2.12 long position among the largest accounts. 68% of the largest Binance whales are long on SHIB.\nThese Binance whales are looking beyond the current shaky price and focusing on the risk-to-reward ratio. \nSHIB is the largest meme coin on Ethereum, and the top 20% traders on Binance might be seeing it as a beta play when Ether starts to recover.\nThe price chart remains firmly bearish. The descending channel from September 2025 has been respected without a single meaningful breakout attempt. \nAll four EMAs—20 at $0.00000591, 50 at $0.00000607, 100 at $0.00000669, and 200 at $0.00000809—sit above price in full bearish alignment.\nThe Parabolic SAR at $0.00000622 adds another layer of overhead resistance right above current price. Until SHIB clears at least the 20 EMA, any talk of recovery is premature.\nKey support sits at $0.00000550 with $0.00000500 below that. Resistance clusters at $0.00000622 (SAR), then $0.00000669 (100 EMA).\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2625954827","isCrawlerRequest":true}