Recent Updates on Shiba Inu and Binance Delisting Rumors
Yesterday, Shiba Inu’s marketing lead, Lucie, debunked rumors surrounding the alleged delisting of SHIB from Binance. This clarification came in response to Binance’s announcement of the delisting of seven trading pairs, including SHIB. However, it was revealed that the delisting of SHIB/TUSD was likely due to legal scrutiny around the TUSD stablecoin and does not affect any other SHIB pairs on the platform.
Despite the recent double-digit crypto drawdown in June 2024, which saw SHIB experience a 35.9% deficit over the past 30 days, some traders are viewing the current support level as an entry point. The support level, ranging between $0.000017 and $0.000018, has seen 420T SHIB split between 16.11K crypto addresses.
Looking ahead, SHIB’s future hinges on developments in Shibarium Layer-2, SHIB’s public blockchain, as well as the upcoming launch of a Layer-3 blockchain later this year. In a recent funding round, SHIB’s executive team raised $12 million for its Fully Homomorphic Encryption (FHE) based Layer-3 chain.
As SHIB enters consolidation, neutral on-chain signals are flashing, with 52% of SHIB custodians currently making a profit. This development comes after meme coins led the crypto market race in March 2024, reaching a cycle peak of $56 billion.
Stay updated on DailyCoin’s trending crypto stories, including the Cardano community pressuring Kraken to out a DDoS mastermind and the potential impact of a Trump win on China’s crypto ban.
