There has been some confusion and conflicting reports regarding the status of Shiba Inu (SHIB) on Binance, one of the world’s largest cryptocurrency exchanges. Here is a detailed breakdown of the situation based on the latest information:
Conflicting Reports on Delisting
- Delisting Announcements:
- Some sources have reported that Binance is delisting Shiba Inu (SHIB) along with other cryptocurrencies such as Chainlink (LINK) and Memecoin (MEME) due to declining trading volumes and liquidity issues. This delisting is part of Binance’s periodic review to maintain market quality and protect users[1][11][17].
- Specifically, Binance announced the removal of the SHIB/TUSD trading pair, among others, effective June 28, 2024, at 03:00 UTC[11][17].
- Contradictory Statements:
- Other sources, including official statements from Binance and community representatives like LucieSHIB, have clarified that Shiba Inu is not being delisted as an asset from the platform. Instead, only specific trading pairs with low liquidity are being removed[2][5].
- This means that while certain trading pairs involving SHIB are being delisted, SHIB itself remains available for trading on Binance through other pairs.
Market Impact and Reactions
- Price Movements:
- Following the delisting announcements, the price of SHIB experienced some volatility. Initially, there was a slight increase in SHIB’s price, but it has since stabilized[11].
- The broader crypto market has also been experiencing volatility, with significant price movements across various cryptocurrencies, including Bitcoin and Ethereum[3].
- Community and Investor Sentiment:
- The Shiba Inu community has been active in addressing the delisting rumors, emphasizing that SHIB remains a viable asset on Binance despite the removal of certain trading pairs[5].
- Major SHIB holders, or ‘whales,’ have been observed reallocating their capital, potentially signaling strategic shifts in investment within the crypto space[15].
Conclusion
In summary, while Binance is delisting specific trading pairs involving Shiba Inu (SHIB) due to low liquidity and trading volumes, SHIB itself is not being removed from the platform. Users can still trade SHIB through other available pairs on Binance. The delisting of certain pairs is part of Binance’s efforts to maintain a high-quality trading environment and protect its users.
Citations:
[1] https://bitcoinist.com/shiba-inu-binance-delisting/
[2] https://www.binance.com/fr-AF/square/post/10035533665346
[3] https://www.forbes.com/digital-assets/assets/shiba-inu-shib/
[4] https://www.binance.com/en/square/post/4778141833002
[5] https://news.shib.io/2024/06/27/binance-not-delisting-shiba-inu-separating-fact-from-clickbait/
[6] https://www.coinbase.com/price/shiba-inu
[7] https://www.binance.com/ar-BH/square/post/9735646268714
[8] https://www.binance.com/en/square/post/9996191518730
[9] https://www.youtube.com/watch?v=USsNJKcA3ig
[10] https://blockchair.com/news/shiba-inu-caught-in-the-crosshairs-of-binances-crypto-delisting-spree–ddad01919a
[11] http://tokenpost.com/Binance-Delists-Shiba-Inu-Chainlink-and-Five-More-Cryptos-Due-to-Market-Conditions-12134
[12] https://cryptonews.net/news/analytics/29320181/
[13] https://www.linkedin.com/posts/todayq_binance-set-to-delist-these-shib-link-spot-activity-7211716955802591232-lZLg
[14] https://www.binance.com/en/square/post/2847380998953
[15] https://coinedition.com/18m-shiba-inu-crypto-burned-in-hours-shib-whales-move-capital-to-low-cap-altcoin-playdoge/
[16] https://cryptorank.io/news/feed/11c4c-monero-crashes-30-after-binance-includes-xmr-in-altcoin-delisting-spree
[17] https://coinstats.app/news/ec1cf65c0d76439f88d64f58b483efcea8e9f66a4cfcef4afd3329a396b7f0bf_Binance-to-Delist-Shiba-Inu-%28SHIB%29-and-Other-Low-Liquidity-Pairs-on-June-28/
[18] https://economictimes.indiatimes.com/markets/cryptocurrency/shiba-inu-price/cryptodetail/symbol-shib.cms
[19] https://www.binance.com/en/square/post/1781336094273
[20] https://watcher.guru/news/category/altcoins/shiba-inu
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