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The decision from the leading crypto exchange Binance 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 to X to share “fast facts” about Shiba Inu with its 461,300 followers. The disclosure touched on Shiba Inu’s origins, the founding entity, and the passionate community currently driving the project.
Binance.US Promotes Shiba Inu
Specifically, Binance.US highlighted that Shiba Inu is a meme-inspired project operating on the Ethereum blockchain. Like Dogecoin, the meme coin king, SHIB features a Shiba Inu—an agile, small Japanese breed originally bred for hunting—as its mascot.
Secondly, the exchange noted that the Shiba Inu project was launched in August four years ago by an entity or group known as Ryoshi. Thirdly, Binance.US emphasized that Shiba Inu’s community-driven history reflects creator Ryoshi’s focus on a decentralized, community-led initiative.
Shiba Inu Army Excited, Makes New Demands from Binance.US
Community members have expressed their excitement with the crucial piece of history shared by Binance.US. “Binance US is shilling SHIB. Probably nothing,” remarked community analyst SHIB Knight.
#Binance US is shilling $SHIB. Probably Nothing https://t.co/JLp4VIKaMl
— $SHIB KNIGHT (@army_shiba) October 24, 2024
Others have taken 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 called on Binance to start burning SHIB tokens using transaction fees accumulated from trading Shiba Inu on the platform. They believe this would contribute to reducing the massive circulating supply of SHIB, potentially impacting its market value.
The Expanding Shiba Inu Ecosystem
However, community members have pointed out that the Shiba Inu ecosystem has become much more expansive than the three points highlighted by Binance.US.
Notably, with Ryoshi’s disappearance, Shiba Inu has transitioned to the hands of community members, now led by the pseudonymous developer Shytoshi Kusama.
Under his leadership, SHIB has made significant progress, including launching a native blockchain, Shibarium. It has also secured major partnerships with Zama, D3 Global, and CDSA.
Additionally, a second version of the ShibaSwap native DEX is set to launch. Other ongoing initiatives within the Shiba Inu project include Shiba Eternity, Shibacals, The SHIB Magazine, and SHIBTheMetaverse.
Amid Shiba Inu’s advancements, some pundits argue that it is no longer merely a meme coin like Dogecoin but has evolved into a utility project.
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