Important Binance Update Concerning Shiba Inu (SHIB) and Dogecoin (DOGE)

Important Binance Update Concerning Shiba Inu (SHIB) and Dogecoin (DOGE)


TL;DR

Binance will delist 17 liquidity pools from its Liquid Swap by October 27, including pairs like DOGE/BUSD and SHIB/BUSD, but Binance Spot remains unaffected.
Despite delistings, Dogecoin and Shiba Inu prices remain strong, reflecting the overall positive crypto market trend.
BitMEX also delisted pairs, including FLOKI/USD, but Floki Inu’s value has seen a significant uptrend recently.

Binance Removes the Following Pairs

The world’s largest cryptocurrency exchange – Binance – announced it will delist 17 liquidity pools from Binance Liquid Swap in an attempt to “reduce slippage and provide users with better transaction prices.” The amendments will become effective from October 27 and include some well-known digital assets.

Namely, all the affected trading pairs are ADA/BUSD, BNB/BUSD, BTC/BUSD, BUSD/DAI, BUSD/USDT, DOGE/BUSD, ETH/BUSD, FIL/BUSD, GMT/BUSD, HOOK/BUSD, LINK/BUSD, LTC/BUSD, MATIC/BUSD, POND/BUSD, SHIB/BUSD, SOL/BUSD, and UNI/BUSD.

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“Users who hold positions in the above liquidity pools will automatically receive their deposited assets in their Spot wallets,” Binance assured. It also clarified that the dismissal spree will not impact the trading of the aforementioned pairs on Binance Spot. 

Despite being included in the amendments, the price performances of the largest memecoins by market capitalization – Dogecoin (DOGE) and Shiba Inu (SHIB) – have not suffered. The former is up 3% in the past 24 hours, whereas the latter has spiked by 4% (per CoinGecko’s figures).

It is worth mentioning that the assets’ price increase could be a result of the overall revival of the cryptocurrency market. Bitcoin (BTC) recently surpassed $30K for the first time since August, XRP soared to almost $0.53 following Ripple’s latest victory against the US SEC, while Solana (SOL) has skyrocketed by 12%.

This SHIB Rival was Affected by BitMEX’s Efforts

Floki Inu is another memecoin that was recently involved in a delisting spree after BitMEX removed FLOKI/USD and FLOKI/USDT perpetual swap contracts. The other trading pairs included in the move were 1TAIDOGE/USD, 1TAIDOGE/USDT, BOB/USD, GMX/USD, GMX/USDT, ORDI/USD, RNDR/USD, and TURBO/USD.

FLOKI has also performed quite well over the past several weeks. It has risen approximately 18% for the last 30 days and is up around 130% since the beginning of the year.

Those willing to find out more about the different memecoins, their specifics, purposes, and surrounding risks could take a look at our video below: 

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