Due to numerous extraordinary catastrophes and upheavals, the cryptocurrency market has been in the news for the past year. One of the few cryptocurrency exchanges, Binance, has so far avoided any significant problems.
Although Binance just delisted a Shiba Inu trading pair, this is by no means the most significant development involving this cryptocurrency exchange.
Some people were immediately alarmed by stories claiming that Binance had delisted Shiba Inu. However, further research indicates that Binance is only delisting on a small number of trading pairings, one of which involves the SHIB cryptocurrency.
In the official notification, Binance didn’t state why certain trading pairs were being discontinued. However, according to some other sources, the SHIB/GBP was delisted because of poor liquidity. On the Binance exchange, the SHIB/USDT trade pairing has one of the biggest trading volumes, at $30.5 million.
Shiba Inu enthusiasts received good news when Binance reported that this cryptocurrency ranked third in popularity in 2022, only after Ethereum and Bitcoin. It’s unusual to see a lesser coin become one of the most closely followed tokens on the site, but the meme coin that was hailed as a “Dogecoin killer” recently saw an increase in trade volume. Shiba Inu’s circulating supply is now held by Binance to a degree of roughly 16%, with 91.57 trillion tokens valued at about $797.57 million spread across four separate wallets. The widely used meme currency is obviously here to stay.
Since only one trading pair was delisted, you can still invest in this meme coin on the Binance exchange. Shiba Inu can be purchased with a credit card, a bank account linked to it, or by exchanging another cryptocurrency for it.
As always, we advise you to perform your own research before making an investment in a speculative asset like cryptocurrency. Shiba Inu is a prime illustration. As fans banded together on social media to try to raise its value during the pandemic months, it rose to popularity but has subsequently fallen sharply.
