Shiba Inu Team Issues Scam Warning, Here’s What SHIB Investors Should Watchout For
Shiba Inu (SHIB) has become one of the most popular meme currencies in the second half of the current bull cycle. The popularity in the crypto world comes with its fair share of disadvantages especially in the form of scams that often lure new investors and rob them of their investment. A similar trend is being observed with SHIB amid heightened popularity and growing adoption. The Shiba Inu team released a video warning against such potential scams via its official Twitter handle.
Stay Alert & Safe #ShibArmy!
We've been made aware of a recent scam, traveling social media, and other communication platforms.
Here's a quick video to provide more information on the matter. pic.twitter.com/UOh50WsJSQ
— Shib (@Shibtoken) November 21, 2021
The short video clip highlighted how various telegram scam channels are trying to impersonate the official handles and offer fake airdrops and rewards. The scammers usually target hashtags on social media and comment on general posts associated with those hashtags.
Fake Shiba telegram group is being shared across social media. The scammers impersonate official accounts and create fake users. These scammers reply to general posts.
They target your hashtags: #shib #shibarmy #leash #shibaswap #bone
There is no: Shiba breaking news! Big event!
There is no: Shiba airdrop!
There is no: Shiba bonus!
There is no: Shiba giveaway!
There is no: Shiba gift globally!
The official handle also advised investors to stay alert and to never share their wallet private keys or email addresses.
Shiba Inu Slips Out of Top-10 Crypto Rankings
Shiba Inu made headlines in October thanks to its mammoth 1000% surge that also helped its dethrone Dogecoin (DOGE) briefly and also broke into the top-7 in terms of crypto rankings. However, November has turned out bearish for the popular meme currency despite several new mainstream partnerships and listing announcements.
SHIB is currently trading at $0.00004605 with a 5% decline over the past 24-hours. The altcoin has lost nearly 50% of its valuation from an all-time high of $0.000089. The altcoin has slipped out of the top-10 rankings as Avalanche (AVAX) overtook SHIB with a 50% weekly surge.
- John Bollinger Sees ‘W’ Bottom Forming in Ethereum and Solana, Not Bitcoin
- Robert Kiyosaki Calls Bitcoin and Ethereum ‘Real Money,’ Urges Investors to Ditch ‘Fake’ Fiat
- ‘Sell Gold, Buy Bitcoin’: Expert Flags Major Market Bottom Signal
- Ripple Makes ‘Unusual’ $500M Transfer Amid $1 Billion XRP Treasury Plans
- ‘I’m Going Bonkers’: Dave Portnoy Says He’ll Buy XRP Again If It Dips Below This Level
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
- HYPE Price Teeters Amid Weak Technicals and Soaring Liquidations
- XRP Price Prediction As Ripple Announces $1B Treasury Plans – Is a Rebound Imminent?
- Bitcoin Price Prediction Amid Gold’s Parabolic Rally to Second-Largest Reserve Asset
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
