Binance, the world’s largest crypto exchange by 24-hour trading volume, shares a cryptic message that got members of the Shiba Inu community anticipating Shibarium support.
The image, captioned “pawsitively prepped for the next chapter!” featured a dog staring at two oranges placed on a traveling luggage. The Binance tweet triggered speculations among Shiba Inu community members, who attempted to decode its meaning.
Possible Shibarium Support
According to some SHIB enthusiasts, the cryptic message suggests that Binance could be planning to support Shiba Inu’s Layer-2 scaling solution, Shibarium. Binance potentially supports Shibarium and would enable users to deposit and withdraw assets via the L2 blockchain.
Notably, popular community member ‘Sand’ was among those making this speculation. The X user also hinted at the possibility of Binance offering incentives relating to Shiba Inu ecosystem tokens, BONE, and LEASH.
Oh dear @binance, you teaser 💖
Is that support for #Shibarium? 😉 Or maybe you will gift the $shib some delicious $bone and a $leash?#ShibArmy awaits! https://t.co/bCoif35uq8— 𝑺𝒂𝒏𝒅 | 🌍 Shibarium 🌏 (@Sand_ShibArmy) July 15, 2024
Also, Japanese-based Shiba Inu community figure Kuro suggested that they understand the message conveyed by Binance. In an X post today, Kuro redesigned the image accompanying the Binance tweet to include Shibarium, BONE, and LEASH logos.
I see what you mean, @binance.#TreatYourSelf #Shibarium https://t.co/Z5vRwfUEWb pic.twitter.com/BZlfAiMOgp
— KURO🐾SHIBARMY JPN🇯🇵 (@kuro_9696_9696) July 15, 2024
Besides Shiba Inu, fans of other dog-themed tokens claimed that the exchange could be planning to support their favorite tokens, including Pawswap (PAW).
Is Binance Planning to Support SHIB Burn?
The development comes as Shiba Inu enthusiasts continue to urge Binance to support SHIB burns. It is no longer news that the community has hinted at plans to burn SHIB from leading crypto exchanges, including Binance and Coinbase.
On July 9, popular community figure Lola specifically asked Binance CEO Richard Teng to extend the exchange’s ongoing LUNC burn support to SHIB. Lola suggested that the exchange should burn SHIB using a portion of the token’s spot and margin trading fees.
The exchange has not responded to this request. Moreover, it is unclear whether the recent cryptic message relates to its plans to burn SHIB using a fraction of its trading fees.
However, Binance’s support for the SHIB burn could bolster the number of tokens permanently removed from circulation.
Data from Shibburn shows that 410,727,570,872,968 (410.72 trillion) SHIB have been destroyed via burns, leaving Shiba Inu with a total supply of 589.27 trillion tokens. The burn rate is up 30.4% over the past 24 hours to 844,269 SHIB.