Shiba Inu Enthusiasts Advocate for SHIB Burn on Binance to Reduce Circulating Supply

Shiba Inu enthusiasts are rallying for a significant reduction in SHIB’s circulating supply through more burns, with the hope that Binance will join the cause. The official burn tracker, Shibburn, is exploring the possibility of burning SHIB on Binance using the token’s trading fees, similar to the exchange’s approach to LUNC incineration.

The community’s push for a Binance burn was sparked by a polite request from Lola, a prominent figure in the Shiba Inu community, to Binance CEO Richard Teng. Lola highlighted Binance’s support for LUNC burn and urged the exchange to extend this support to SHIB as well.

Despite the community’s demands, leading exchanges like Binance and Coinbase have yet to respond to the initiative to burn SHIB. As a result, community members have taken matters into their own hands and have been burning SHIB themselves.

Binance’s involvement in the LUNC burn campaign has been significant, with the exchange burning over 62 billion LUNC tokens, worth millions of dollars. However, Binance has not indicated any plans to extend this support to other tokens like Shiba Inu.

If Binance were to heed the community’s request and burn SHIB using a portion of its trading fees, it could have a substantial impact on SHIB’s circulating supply and potentially boost the price of the remaining tokens. As the community continues to advocate for a Binance burn, the future of SHIB’s circulating supply remains uncertain.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions.