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 Burn Spike And Crash

The 7-day burn chart shows a massive spike on April 4, peaking near 33 million tokens burned in a single day—the highest burn activity seen in this entire window. 

The weekly burn rate is up 89.36%, a significant acceleration.

However, the 24-hour burn has since dropped 74.99%, meaning that the April 4 spike was an isolated event rather than a sustained campaign. 

Consistent daily burns in the tens of millions—maintained over weeks—would start to matter for supply dynamics. One spike doesn’t move the needle on a supply measured in quadrillions.

The Whale Positioning

Data 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.

These Binance whales are looking beyond the current shaky price and focusing on the risk-to-reward ratio. 

SHIB 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.

The Technical Setup

The price chart remains firmly bearish. The descending channel from September 2025 has been respected without a single meaningful breakout attempt. 

All 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.

The 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.

Key support sits at $0.00000550 with $0.00000500 below that. Resistance clusters at $0.00000622 (SAR), then $0.00000669 (100 EMA).

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