Binance, the world’s largest crypto exchange by trading volume, posted a puzzling image on X on Monday that could hint at major upcoming developments for the Shiba Inu ecosystem. The image, which showed a Shiba Inu dog next to two oranges on a piece of luggage wrapped in Binance’s signature yellow ribbon, was captioned “pawsitively prepped for the next chapter!”. This teaser sparked a flood of speculation in the SHIB army.
Pawsitively prepped for the next chapter! pic.twitter.com/5MEKl09l5A
— Binance (@binance) July 15, 2024
What Surprise Does Binance Have For The Shiba Inu Army?
The cryptic nature of the teaser has led many to believe that Binance could be hinting at an upcoming integration of Shibarium, Shiba Inu’s layer 2 solution that aims to improve the scalability and efficiency of the blockchain. The main goal of Shibarium is to enable faster and cheaper transactions for token holders, which should significantly increase the usability and attractiveness of the token.
A popular SHIB community member, ‘Sand’, speculated via X about potential rewards connected to Shiba Inu’s ecosystem tokens, BONE, and LEASH. She posted, “Oh dear Binance, you teaser. Is that support for Shibarium? Or maybe you will gift the Shib some delicious BONE and a LEASH? #ShibArmy awaits!”
This speculation was supported by Kuro, a prominent Japanese-based Shiba Inu community figure, who redesigned the teaser image to include logos of Shibarium, BONE, and LEASH, further fueling the conversation on social media.
Another significant strand of speculation revolves around the possibility of Binance initiating a token burn program for Shiba Inu, similar to its ongoing efforts with Terra Luna Classic (LUNC). Community figure Lola has been vocal, pressing Binance CEO Richard Teng on July 9 to extend the exchange’s token burn model to SHIB, using a portion of the token’s spot and margin trading fees for the burn.
The LUNC burning mechanism has been operational since 2022 as a part of efforts to revive the project after its market crash. Binance’s previous token burn initiatives have demonstrated their ability to reduce token supply and potentially drive up token value, making this a hot topic among SHIB holders.
Another theory from the SHIB community is that Binance could list another token from the Shiba Inu ecosystem. Specifically, it is Pawzone (PAW), the token of the primary NFT marketplace for the Shiba Inu ecosystem.
So far, Binance has not provided any official clarification or details regarding the nature of the advertised announcement. This lack of information continues to fuel speculation and discussion within the community. The possible outcomes – be it the integration of Shibarium, a new token burn programme or something else entirely – could be major news for the Shiba Inu ecosystem.
At press time, SHIB traded at $0.000027.
Featured image from X, chart from TradingView.com
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