Shiba Inu enthusiasts are in a frenzy after a cryptic tweet from Binance, the world’s largest cryptocurrency exchange, sparked speculation about potential support for the Shiba Inu ecosystem. The post, captioned “Pawsitively prepped for the next chapter!”, featured an image of a dog looking intently at two oranges resting on top of luggage.
This seemingly innocuous post ignited a firestorm of theories within the Shiba Inu community. Many community members, including prominent figure Sand (@Sand_ShibArmy), interpreted the message as a hint towards Binance integrating Shibarium, Shiba Inu’s Layer-2 scaling solution.
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This integration would allow users to deposit and withdraw SHIB and other Shiba Inu ecosystem tokens directly on the Shibarium blockchain, potentially boosting transaction speeds and reducing costs.
Furthermore, speculation swirled around the possibility of Binance offering incentives related to BONE and LEASH, the governance and utility tokens within the Shiba Inu ecosystem. Popular community member Kuro (kuro_9696_9696) even went a step further, redesigning Binance’s image to incorporate the logos of Shibarium, BONE, and LEASH, seemingly solidifying this interpretation for some.
It’s important to note that Binance has not made any official announcements regarding Shibarium support or incentives for BONE and LEASH. While the tweet has undoubtedly ignited excitement, the true meaning behind it remains unconfirmed.
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Efforts to Increase Shiba Inu (SHIB) Burns
This news comes amidst ongoing efforts from the Shiba Inu community to encourage leading cryptocurrency exchanges to participate in SHIB burning initiatives. The community has previously expressed a desire for Binance and Coinbase to implement SHIB burns, potentially utilizing a portion of trading fees to burn tokens.
On July 9, community figure Lola requested that Binance CEO Richard Teng consider extending the exchange’s ongoing LUNC burn program to SHIB. SHIB token burns can help boost its price, as the reduced supply can create scarcity.
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Beyond Shibarium, the post also sparked speculation among fans of other dog-themed tokens, such as Pawswap (PAW), who hope it might foreshadow support for their favorite assets.
While Binance has yet to respond to this request, incorporating SHIB burning into its operations could significantly reduce the token’s overall supply. According to Shibburn, a platform tracking SHIB burn activity, over 410.7 trillion SHIB tokens have already been burned. This leaves the current total supply at roughly 589.27 trillion, and the circulating supply at $583.3 trillion.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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