Earlier this week, a public announcement posted to the official Shiba Inu (SHIB) Twitter account served as warning to potential buyers of fraudulent actions occurring throughout varied social media platforms. Right here’s how the announcement appeared on social media.
The written message scrolls on a video that runs roughly 50 seconds lengthy, embedded inside the tweet. The majority of the message is transcribed under.
“We have been made conscious of a current rip-off touring [on] social media and different communication platforms. A pretend SHIBA Telegram group is being shared throughout social media. The scammers impersonate official accounts and create pretend customers. There is no such thing as a ‘SHIBA BREAKING NEWS! BIG EVENT!’ There is no such thing as a SHIBA airdrop! There is no such thing as a SHIBA bonus! There is no such thing as a SHIBA giveaway! There is no such thing as a SHIBA reward globally!”
Many high-profile meme tokens are frequent targets for comparable scams and assaults since dangerous actors accurately assume that new entrants to the crypto-sphere are drawn to the recognition of initiatives resembling Dogecoin, Floki Inu, and Shiba Inu. Sadly, these new crypto customers are typically extra prone to fraud.
In current weeks, few crypto initiatives have garnered the extent of consideration that Shiba has attracted. Particularly when you think about that final week, Shiba’s consumer base formally surpassed the 1 million mark in accordance with the Certik audit report posted on the Shiba Inu web site. Moreover, Shiba’s following on Twitter has handed the two million mark – which is 10% greater than the 1.8 million at the moment following the official Ethereum account.
Regardless, the “Doge killer” might be a sufferer of its personal success. On the time of writing SHIB was buying and selling at $0.0000403, which is a 51% decline from its all-time excessive of $0.0000879 posted on Oct. 27, whereas it’s down 5.27% in the course of the previous 24 hours in accordance with CoinMarketCap.
Advise family and friends to keep away from these kinds of initiatives because the massive features have already come and gone. If Shiba was to 100x once more, with its present $24 billion market cap, it will require a worth explosion that will push its valuation to $2.4 trillion. When you think about the present entirety of the crypto-universe is $2.6 trillion – together with Shiba – there’s mathematically no means it’s going to see these multiples once more anytime quickly.