- Binance.US’s endorsement highlighted Shiba Inu’s community-led roots, exciting SHIB’s loyal followers and encouraging its evolution beyond a meme coin.
- SHIB’s community now urges Binance to list BONE and consider using transaction fees for SHIB token burns, aiming to boost market value.
- Shiba Inu’s ecosystem, under developer Shytoshi Kusama, has expanded to include Shibarium and ShibaSwap 2.0, partnerships, and real-world utility projects.
The decision from Binance.US, the American branch of the global crypto exchange, to promote Shiba Inu has electrified the SHIB community. On Wednesday, the exchange posted a “fast facts” update on Shiba Inu to its 461,300 followers on X (formerly Twitter), diving into the project’s history, its founding roots, and the loyal community that drives it.
This public endorsement sheds light on SHIB’s identity as more than a meme coin, bolstering its community’s vision and sparking excitement across social media channels.
Binance.US emphasized that Shiba Inu, like Dogecoin, belongs to the meme-inspired coin genre but has its own identity within the Ethereum ecosystem. Shiba Inu’s mascot is a Shiba Inu dog, a quick, small Japanese breed with a bold personality, representing the project’s lively community. Launched in August 2020, SHIB’s origins trace back to an anonymous creator or group known as Ryoshi. Ryoshi’s ambition was for SHIB to become a decentralized, community-led project, and Binance’s spotlight reinforces this vision, reminding followers that the project’s values are steeped in community-driven governance.
This promotion from Binance.US has revived interest in the SHIB ecosystem and inspired community members to push for additional developments, including listing other tokens and exploring SHIB’s token-burning potential.
Growing Demands from the Shiba Inu Army
The SHIB community has responded enthusiastically to Binance.US’s spotlight, seeing it as a pivotal moment for SHIB’s ongoing journey. Notably, SHIB Knight, a community influencer, suggested Binance’s focus could lead to further growth opportunities for SHIB, including possible asset listings and increased token-burning mechanisms.
Calls are also rising for Binance.US to list BONE, the governance token within Shiba Inu’s ecosystem. Many believe that adding BONE would strengthen SHIB’s utility and reinforce Binance’s commitment to supporting SHIB’s ecosystem.
Additionally, community members have proposed that Binance.US begin utilizing transaction fees from SHIB trades to fund SHIB burns. With a circulating supply of nearly 589 trillion SHIB, burning tokens could reduce supply pressure and potentially boost its market price. SHIB’s monthly burn rate has averaged around 3.5 billion tokens, though community advocates believe Binance’s involvement could drive burns significantly higher.
The Shiba Inu ecosystem has evolved far beyond its origins as a meme coin. With Ryoshi’s absence, community leadership has shifted to Shytoshi Kusama, a pseudonymous developer who has steered SHIB towards real-world utility. The project now boasts Shibarium, its own Layer-2 blockchain, and the upcoming ShibaSwap 2.0, designed to bring added functionality and engagement to the community.
Strategic partnerships with Zama, D3 Global, and CDSA, alongside ongoing initiatives like Shiba Eternity, Shibacals, and SHIBTheMetaverse, are evidence of Shiba Inu’s progress. Some analysts argue that SHIB is no longer just a meme coin but a serious utility project poised for continued growth.
Binance.US’s promotion might just be the beginning of an exciting new phase for Shiba Inu as it continues to carve its place within the crypto industry.