Shiba Inu Community Proposes SHIB Burn via Binance and Coinbase

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Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

The Shiba Inu community is actively considering burning SHIB tokens that are held on Binance and Coinbase to reduce its circulating supply to a great extent. In fact, in a recent poll undertaken by ‘Shiba Arab Army’, community feedback was taken on this proposal, and 95% proved to be in favor. This step’s primary goal is to increase the value of SHIB by decreasing its supply, which is similar to Ethereum co-founder Vitalik Buterin’s decision and the ongoing efforts by the community. Also, Binance has a history of token burns like LUNC, hinting at a potential collaboration that could significantly impact the market dynamics of SHIB along with a optimistic reinforcement of investor sentiment.

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