Scam Alert: Is Shiba Tron (SHIBT) A Scam Coin? PeckShield Detects Scam Around SHIBT Token

Shiba Tron token (SHIBT) has been a new addition to the fleet of Dog-themed meme coins. A few days ago, the SHIBT coin went on to jump by more than 1000% to grab the attention of the investors. However, PeckShield has dropped an alert among cryptocurrency enthusiasts regarding SHIBT.

Is Shiba Tron a scam coin?

PeckShield has traced a possibility of a scam associated with the Shiba Tron token. They identified that only whitelisted users can sell and withdraw their tokens.

Whitelist refers to a list of cryptocurrency addresses that are considered trustworthy. The addresses on the Whitelist are the only ones that can withdraw funds from their exchange account.

As per the given data from BSCscan, SHIBT has over $53 million of total market capitalization with 5681 holders. The data reveals that there have been over 10,000 transaction done while still, some users are still engaging with coins. These stats are a little bit scary as the token have some withdrawal restriction.

The official page of the SHIBT coin has crossed 19 thousand followers on Twitter. Meanwhile, in a post, the coin calls itself a Shiba Inu (SHIB) and Floki Inu (FLOKI) killer.

How to detect a scam coin?

PeckShield has recommended staying away from investing in these kinds of tokens. They have even dropped some illustrations to avoid a scam coin.

SHIBT price’s zoom by 1224%

The Shiba Tron token has seen a jump of 1224% in the last 24 hours, as per Coinmarketcap. It is trading at an average price of $0.006003, at the press time. SHIBT has been trading with a 24-hour trading volume of $378,670 which is down by 37%.

SHIBA TRON calls itself a REAL community coin that is not controlled by a few people. It promises of mechanism specifically designed to avoid whales & bots. On the other hand, assures that old holders will earn $SHIBT on each transaction as 10% of each transaction will be redistributed among them.