Shiba Inu (SHIB), a well-known meme cryptocurrency that has grown significantly in popularity over the past few years, will be one of the tokens that will be moved out of Binance’s Innovation Zone on April 18, 2023, according to the cryptocurrency exchange.
Along with SHIB, the trading platform will also move Frax Share (FXS), Trust Wallet Token (TWT), and 1inch (1INCH) out of the Innovation Zone on the same day.
#Binance will move the following tokens out of the Innovation Zone:
🔸 $SHIB
🔸 $FXS
🔸 $TWT
🔸 #1INCHhttps://t.co/BepOq4WVYm— Binance (@binance) April 17, 2023
Binance Exchange designed The Innovation Zone to give users a safe setting in which to trade new and innovative projects. But as time has gone on, several of these projects have shown their value and attained the high standards the exchange demands.
When Binance discovers such projects through its routine evaluation process, it removes them from the Innovation Zone, demonstrating its increasing confidence in the projects’ capacity to maintain long-term growth in the cryptocurrency ecosystem.
Before removing a token from its so-called “Innovation Zone,” Binance takes into account a number of variables, including the team’s dedication to the project, trading volume and liquidity, the network’s stability and security from attacks, responsiveness to repeated due diligence requests, the level of public communication, and the level and quality of development activity, among other factors.
These assure investors that the projects are legitimate and have passed a rigorous evaluation process. It also gives the project increased exposure and credibility within the crypto community.
Good News For the Shiba Inu (SHIB) Community
This is specifically a significant milestone for the Shiba Inu (SHIB) token and its overall community members, as the project’s development team continuously improves and rolls out new solutions that contribute to its ecosystem.
The Shiba Inu token has gained significant popularity in recent months, with its market capitalization increasing rapidly. Meanwhile, this move by Binance might cause some volatility in the short term, but the truth remains that it further validates the potential of the SHIB token and could eventually lead to increased adoption by investors and traders.
Shiba Inu is one of the most reputable cryptocurrencies and is steadily gaining ground in the industry. By market cap, it is now the fifteenth-largest cryptocurrency according to CoinMarketCap, trading at $0.000012 at the time of this writing.
