SHIB Burn Falls As Binance Adds It To Verifiable Digital Assets List

Old Shiba Inu ($SHIB) Meme Token on Concrete Balcony Ⓒ 2023 – Crypto Coin Opps

Old Shiba Inu ($SHIB) Meme Token on Concrete Balcony Ⓒ 2023 – Crypto Coin Opps
Old Shiba Inu ($SHIB) Meme Token on Concrete Balcony Ⓒ 2023 – Crypto Coin Opps

Shiba Inu Token is having a great 2023.   Though the goal of 100-million tokens being sent to the ‘dead wallet’ daily for 2023 appears to be struggling, the coin itself is winning.  The value has surged and Binance has just added the crypto-asset to the Verifiable digital assets list.

Value of Shiba Inu in 2023

At the beginning of the year, $SHIB token had a price of US$0.00000803.   Today the token has shed a zero and is valued at US$0.00001286.  Though facing resistance at the moment, it’s been close to doubling in price reaching a year’s high of US$0.000015 before facing market correction.  

A ‘bull run’ of its own, these numbers could be particularly interesting to analysts waiting on Fidelity Crypto and Shibarium to launch. Both of these should have even bigger effects on the cryptocurrency token.     Possibly the shedding of another 1 to 2 zeroes could be achieved.

Shib Burn Falls Under 1-Million

The ShibArmy’s burn goals would help these milestones happen faster but it appears the movement has slowed.  Just yesterday (Friday), The Shib burn numbers dropped to less than 1-million tokens, which is a far cry from the 100M daily goal.    

Perhaps users are being ‘tight’ on burning because Valentine’s day expenses?

Whatever the reason, the $SHIB burn is racing towards 10-million tokens today which is a great improvement.  The daily activity proves there’s still a huge and loyal base supporting Shiba Inu, which increases its brand value and equity.

And while numbers look poor currently,  the number of tokens being burned daily will increase in dramatic fashion when Sibarium launches later in 2023.    According to the crypto-token’s developers, the layer-2 technology will burn $SHIB with each transaction done.  And  with over 1.3-million people holding Shiba inu currently, the possibilities of what will happen after Shibarium is used for ecommerce are endless; A true Pandora’s box situation.

Binance Adds $SHIB to Verfiable Digital Assets — Zero-Knowledge Authentication To Publish Shiba Inu Holdings on BSC

And it appears Binance, the world largest holder of $SHIB tokens, believes in the future of that Shibarium technology as well.  It continues mounting support through various actions.

Today, the DailyHodl reported the top centralized crypto-exchange has added Shiba Inu and 3 other alt-coins to its ‘Verifiable Digital Assets’ list. 

Binance announced its introducing a zero-knowledge SNARKS verification system to keep crypto-transaction and user information secure, but publicly calculated alongside it’s proof-of-reserves identification system.

In layman’s terms — to combat speculation of a ‘lack of digital assets,’ apart from the fiat (physical money) backing of those assets’ Binance has created a ‘ZK Snarks” system to let the public verify what digital currencies are held and without exposing users’ private information.

The ‘PoR’ system is the proof-of-reserves system, which authenticates the fiat (physical money) held by Binanace.   It will collaborate with the ‘ZK Snarks’ system to allow the public to verify both digital and physical asset holdings.

Shiba Inu is 1 of 4 assets Binance has added to that ‘Verifiable Digital Assets’ list that functions with the ‘zero knowledge’ verification system.  The other 3 are Polkadot (DOT), Solana (SOL), and Chiliz (CHZ).

Additional tokens will be added in the coming weeks. 

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