The Shiba Inu Binance petition is causing a stir in the crypto world. This move by SHIB fans could change the crypto market’s impact, catching the eye of investors.
Also Read: Shiba Inu and Ethereum: Price Prediction Analysis
Understanding Shiba Inu’s Plan on Binance
The Petition’s Main Idea
SHIB fans started a petition on Change.org. They want Binance to burn 1% of all SHIB trading fees daily. As of July 19, 2024, 111 people have signed. The first goal is 200 signatures, but they hope for 50,000.
Why the Community Supports It
Labib, a well-known SHIB fan, leads this push. The community thinks this Shiba Inu Binance petition is essential for SHIB’s future. A past poll showed that 96.4% of SHIB holders liked this burning idea for big exchanges.
How Burning Works
Burning numerous SHIB tokens cuts the number of coins. This might make SHIB more rare and valuable. It’s a way to make SHIB stronger in the busy crypto market.
Also Read: Binance Might Throw a Surprise to the Shiba Inu Army This Week
How It Might Change SHIB’s Supply and Value
Right now, there are over 589.27 trillion SHIB tokens. The burn plan could lower this number over time. Less supply might lead to higher demand and a better price for SHIB.
Binance’s Part and Past Burns
SHIB fans look at how Binance helped burn LUNC tokens. Lola, a top SHIB supporter, asked Binance CEO Richard Teng to do the same for SHIB. If Binance agrees, it could be a big deal for SHIB burns.
What’s Next
The petition is growing, but there are still hurdles. SHIB fans need to get enough signatures and convince Binance. If they succeed, it could set an example for other exchanges and change how SHIB works.
Also Read: Shiba Inu Gets 1st Public Company in US to Accept SHIB for Payments
To sum up, the Shiba Inu Binance petition is a big moment for SHIB. The result could affect SHIB’s future and set new rules for community-led projects in crypto.
