As a long-term crypto investor with a significant stake in Shiba Inu (SHIB), I’m always keeping an eye on developments within the community and potential partnerships or initiatives that could positively impact the token’s value. The recent interaction between the SHIB army and Richard Teng, the CEO of Binance, has piqued my interest.
In a statement issued through the X account on the Shibburn tracking platform, the team acknowledged remarks made by SHIB supporters in response to a post from Richard Teng, CEO of Binance.
In those comments, SHIB army members asked the Binance boss to start burning Shiba Inu tokens.
Richard Teng faces SHIB burn requests
As a devoted SHIB investor, I’ve noticed a buzzing community of fellow supporters urging Teng, through his Bitcoin ETF tweet, to consider implementing Shiba Inu coin burning on Binance.
Binance’s past practice of using trading fees to destroy LUNC tokens, as mentioned, implies a similar approach could be taken with SHIB. Since 2022, Binance has been instrumental in burning LUNC tokens to aid the Terra Luna Classic (LUNC) project’s recovery after its significant decline that year.
In the past 24 hours, the daily SHIB burn rate reading, as reported by Shibburn, has shown a significant jump of 355.31%. This surge was brought about by a total of 28,256,594 SHIB tokens being incinerated in just 11 transactions.
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2024-07-10 18:00