Bitrabo Editorial
Shiba Inu, known for its strong community presence, has faced various scams targeting its supporters due to the trust built within the project. To combat this, the team continuously informs the community about potential scams, with the latest warning coming from Da Vinci, an admin.
Alert: Beware of New Token Scams Against Shiba Inu Community
@Digarch, a member of the Shiba Inu community, shared a post on X (formerly Twitter) cautioning the SHIBArmy about fraudulent new tokens. The post, shared in the Discord group, delves into these scams and their attempts to deceive the community.
Da Vinci highlighted that these scam tokens falsely claim affiliation with Shiba Inu and Shibarium developers. They exploit the Shiba State and Canine code to lure unsuspecting victims into their schemes. The post noted that scammers even utilize the shib.io address in videos to add a sense of legitimacy to their scams.
Despite the team’s decentralized exchange (DEX) structure preventing exclusive bans on these tokens, investors are advised to conduct thorough research before investing in any token to avoid falling victim to scams.
Another aspect of the Shiba Inu ecosystem facing exploitation is the upcoming TREAT tokens, which have already attracted fake versions pre-launch. Da Vinci emphasized the team’s strong stance against such unethical practices and urged the community to stay vigilant and informed.
Increase in SHIB Investor Activity
Despite the scam warnings, Shiba Inu is experiencing positive market momentum, particularly evident in a 37% increase in daily trading volume. This surge suggests a resurgence of optimism among investors.
SHIB remains the 11th largest cryptocurrency by market capitalization, trailing behind Toncoin and Cardano. However, it has fallen behind the newcomer, Notcoin, which currently holds the 6th largest daily trading volume at $4.25 billion.
Currently priced at $0.00002491, SHIB has seen a 0.54% gain in the last day. While a weekly decrease of 2.08% is noted, the monthly chart shows a positive 9.6% increase, as per CoinMarketCap data.