Fact Check: Did Binance Delist Shiba Inu?

Sahana Kiran
Shiba Inu
Source – Unsplash

Cryptocurrency exchanges can make or break an asset. Listings act as a positive influence and boost the price of cryptocurrencies. But the delisting of these assets can have a negative effect. More recently, news about Binance, a prominent cryptocurrency exchange, ending support for Shiba Inu [SHIB], stunned the market.

Shiba Inu is one of the most popular meme coins on the market. The community-driven project has attracted a wide range of investors from across the globe. This further brings about volume for not only the cryptocurrency but also the exchange. Therefore, delisting an asset like this could cause a frenzy. But LucieSHIB, the marketing expert on the network, cleared the air.

According to Lucie, certain members of the crypto community misconstrued an update from the exchange about delisting SHIB. Binance’s post suggested that it will be ending support for a Shiba Inu trading pair and not the asset itself. The firm withdrew support for the SHIB/TUSD pair along with others like METIS/FDUSD, LINK/TUSD, and BLUR/FDUSD.

Also Read: Shiba Inu: SHIB Millionaires To Flourish Despite Metrics Drop

Why Did Binance Say Goodbye to This Pair?

Underperforming pairs are removed from the trade pairings that Binance posts on a regular basis. The token’s availability on the exchange is unaffected by the most recent withdrawal. Eight pairs of Shiba Inu will remain for spot trading on the platform. These consist of SHIB/EUR, SHIB/TRY, SHIB/DOGE, SHIB/BRL, SHIB/JPY, SHIB/USDT, SHIB/FDUSD, SHIB/USDC, and SHIB/EUR.

At press time, Shiba Inu was trading at $0.00001755 following a 1.97% daily surge. The asset seems to be recovering after a challenging week. The meme coin dipped by about 32% throughout the last month. Clearly, the above delisting of the SHIB pair hasn’t had a major impact on the asset.

Also Read: Shiba Inu: Can SHIB Hit $0.001, If 400 Trillion SHIB are Burned?