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Binance CEO Faces SHIB Army's Pleading to Start Burning SHIB, Here's Why

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Wed, 10/07/2024 - 14:44
Binance CEO Faces SHIB Army's Pleading to Start Burning SHIB, Here's Why
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The X account of the Shibburn tracking platform has addressed the SHIB community, citing recent comments made by SHIB fans under a post by Richard Teng, the chief executive officer of Binance.

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In those comments, SHIB army members asked the Binance boss to start burning Shiba Inu tokens.

Richard Teng faces SHIB burn requests

Several SHIB fans and activists addressed Teng under his tweet dedicated to spot Bitcoin ETFs and overall high interest in Bitcoin, asking him to order that the Binance team is beginning to burn Shiba Inu meme coins.

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They referred to Binance already burning LUNC tokens using their proceeds from trading fees, suggesting that the same could be done with SHIB. Binance has been helping to burn LUNC since 2022 to help revive the Terra Luna Classic (LUNC) project after the tremendous crash it faced that year.

As for the readings of the daily SHIB burn rate, according to Shibburn, in the last 24 hours, this indicator has demonstrated an increase by 355.31%. This happened thanks to a total of 28,256,594 SHIB being burned in 11 transactions.

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