World’s
largest
cryptocurrency
exchange, Binance, is
executing
another
crypto
delisting
spree,
with
popular
doggy-themed
meme
coin, Shiba
Inu
(SHIB),
among
the
list
of
casualties.
The
listing
will
see
several
trading
pairs
including
Shiba
Inu
effectively
terminated
from
the
exchange
this
month. 

Binance
Delist
SHIB/TUSD
Trading
Pair

In
a

blog
post

on
June
26,
Binance
announced
its
plans
to
remove
several
spot
trading
pairs,
effective
immediately
by
June
28,
2024.
The
crypto
exchange
disclosed
that
it
would
be
delisting
SHIB/TUSD
and
terminating
the
spot
trading
bots
services
for
this
pair.

 

Binance
has
advised
users
to
update
or
cancel
their
spot
trading
bots
for
SHIB/TUSD
before
their
termination
to
avoid
potential
losses.
The
exchange
revealed
that
its
plans
to
delist
SHIB/TUSD
trading
pairs
will
not
affect
the
availability
of
the

Shiba
Inu
token

on
the
Binance
Spot
Exchange. 

Binance

also
disclosed
that
users
will
still
be
able
to
execute
transactions
using
normal
tokens
and
also
continue
trading
the
spot
trading
pair
bases.
Additionally,
quoting
assets
on
other
trading
pairs
that
are
available
on
Binance
will
also
persist
on
the
exchange. 

Including
the
SHIB/TUSD
spot
trading
pairs,
Binance
has
unveiled
plans
to

delist
several
other
crypto
pairs

including
BLUR/FDUSD,
LINK/TUSD,
MEME/ETH,
METIS/FDUSD,
NFP/BNB,
and
OSMO/BTC.
The
exchange
outlined
several
reasons
for
delisting
these
spot
trading
pairs
in
its
blog
post.

According
to
the
blog,
the
SHIB/TUSD
and
other
spot
trading
pairs
will
be
removed
from
Binance
due
to
their
poor
liquidity
and
underperforming

 

trading
volume.
The
exchange
stated
that
eliminating
low-quality
spot
trading
pairs
was
essential
to
protect
users
and
maintain
a
high-quality
trading
market,
ensuring
the
platform’s
sustainability
and
stability. 

Binance
often
executes

periodic
delisting

processes
after
executing
an
intense
review
of
all
the
listed
spot
trading
pairs
on
its
platform.
Last
year,
the
exchange
delisted
the
SHIB/BUSD
margin
pair
to

cease
the
full
support
of
BUSD
stablecoin. 

Data

from
Binance
has
also
disclosed
that
the
SHIB/TUSD
spot
trading
pair
is
currently
priced
at
$0.00001719,
reflecting
a
1.72%
decrease
in
the
past
24
hours. 

Shiba
Inu
Price
Continues
On
Downward
Spiral

The

price
of
Shiba
Inu
has
plummeted

significantly,
potentially
signaling
the

end
of
the
meme
coin’s
bullish
rally.
Data
from
CoinMarketCap
has
revealed
that
Shiba
Inu
has
fallen
by
approximately
33.06%
over
the
past
month. 

 

The
popular
doggy-themed
cryptocurrency
is
still

witnessing
more
declines,
recording
a
2.39%
drop
in
the
last
24
hours.
This
massive
downtrend
has
also
significantly
affected
investors’
sentiment
and
demand
for
the
meme
coin,
as

Shiba
Inu

has
witnessed
a
36.31%
decrease
in
its
24-hour
trading
volume.
The
cryptocurrency
is
currently
trading
at
$0.000017,
miles
away
from
its
record
high
of
above
$0.000044
earlier
this
year.  

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson

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