Bitrabo Editorial
The largest cryptocurrency exchange, Binance, is in the process of delisting various cryptocurrencies, including the popular Shiba Inu (SHIB) coin. This move involves terminating several trading pairs, including Shiba Inu, from the exchange’s platform.
Delisting of SHIB/TUSD Trading Pair on Binance
Binance made an announcement on June 26 regarding the removal of several spot trading pairs, with the delisting set to take effect by June 28, 2024. One of the pairs being delisted is SHIB/TUSD, and the spot trading bots servicing this pair will be discontinued.
Users are advised to update or cancel their spot trading bots for SHIB/TUSD to avoid any potential losses before the termination date. Despite the delisting of SHIB/TUSD trading pairs, Shiba Inu tokens will remain available on the Binance Spot Exchange.
Binance also assured users that they can continue executing transactions using normal tokens and trading on other available pairs on the exchange. Additionally, quoting assets on different trading pairs will persist on the platform.
Alongside SHIB/TUSD pairs, Binance plans to delist other trading pairs like BLUR/FDUSD, LINK/TUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, and OSMO/BTC. The decision to delist these pairs was influenced by factors such as low liquidity and underperforming trading volume, as outlined in Binance’s blog post.
Binance regularly reviews its listed spot trading pairs and conducts delisting processes to maintain a high-quality trading environment, ensure user protection, and sustain the platform’s stability.
Impact on Shiba Inu Price
The price of Shiba Inu has experienced a significant decline, indicating a potential end to its bullish trend. Data from CoinMarketCap shows a 33.06% decrease in Shiba Inu’s value over the past month.
Shiba Inu continues to face downward pressure, with a 2.39% drop in the last 24 hours. This downward trend has led to a decrease in investor sentiment and demand, reflected in a 36.31% decline in the cryptocurrency’s 24-hour trading volume. Currently trading at $0.000017, Shiba Inu is far from its previous high of over $0.000044 earlier this year.