Leading crypto exchange Binance’s decision to promote the Shiba Inu project to its audience has excited members of the SHIB community.
On Wednesday, Binance.US, the American division of Binance, took share “fast facts” about Shiba Inu with its 461,300 subscribers. The disclosure touched on the origins of Shiba Inu, the founding entity and the passionate community that currently drives the project.
Binance.US promotes the Shiba Inu
Specifically, Binance.US highlighted that Shiba Inu is a meme-inspired project running on the Ethereum blockchain. Like Dogecoin, the king of coins, SHIB features as its mascot a Shiba Inu, a small, agile Japanese breed originally bred for hunting.
Second, the exchange noted that the Shiba Inu Project was started in August four years ago by an entity or group known as Ryoshi. Third, Binance.US highlighted that Shiba Inu’s community story reflects creator Ryoshi’s emphasis on a decentralized, community-led initiative.
The Shiba Inu Army is excited and making new demands on Binance.US
Community members expressed excitement over the crucial part of the story shared by Binance.US. “Binance US shilling SHIB. Probably nothing,” remarked community analyst SHIB Knight.
#Binance The United States doesn’t care $SHIB. Probably nothing https://t.co/JLp4VIKaMl
– $SHIB KNIGHT (@army_shiba) October 24, 2024
Others took the opportunity to urge the exchange to list the BONE token, one of the assets in the Shiba Inu ecosystem.
Interestingly, some community members have requested Binance to start burning SHIB tokens using transaction fees accrued from trading Shiba Inu on the platform. They believe this would help reduce the massive supply of SHIB in circulation, which could impact its market value.
The expanding Shiba Inu ecosystem
However, community members pointed out that the Shiba Inu ecosystem has become much larger than the three points highlighted by Binance.US.
Notably, with Ryoshi’s disappearance, Shiba Inu passed into the hands of community members, now led by pseudonymous developer Shytoshi Kusama.
Under his leadership, SHIB has made significant progress, including launching a native blockchain, Shibarium. It has also entered into major partnerships with Zama, D3 Global and LRCDAS.
In addition, a second version of ShibaSwap native DEX is about to launch. Other ongoing initiatives within the Shiba Inu Project include Shiba Eternity, Shibacals, The SHIB Magazine and SHIBTheMetaverse.
Amid the Shiba Inu’s progress, some experts argue that it is it’s no longer just a coin like Dogecoin but evolved into a utility project.
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