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

source-logo  u.today 10 July 2024 16:44, UTC

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.

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

Imagine @Binance burning from the $SHIB trading fees just like they do for LUNC. Could it happen? 🤔 https://t.co/am2EMIQMU4

— Shibburn (@shibburn) July 9, 2024

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.

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.

Can you please burn some #SHIB from the revenues you receive from trading fees ? You do this to LUNC and perhaps you can also do this to SHIB

— Lola (@CryptoLollla) July 9, 2024

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.