Will Binance Support SHIB Burns Like LUNC?

Meanwhile, Binance is not new to supporting a token’s burn initiative. Recall that the exchange launched an initiative to burn LUNC using 50% of the token’s spot and margin trading fees. The move marks the exchange’s contribution to making victims of the Terra ecosystem collapse whole.

As of May 1, Binance’s total LUNC burns hit a whopping 58.93 billion, valued at $5.6 million at the time. It remains to be seen how the Shiba Inu community hopes to burn SHIB via these top exchanges.

Notably, getting Binance and Coinbase to contribute to the burn campaign could drastically reduce Shiba Inu’s circulating supply and potentially bolster the token’s value in the long run.