Shiba Inu Team Issues Scam Warning, Here’s What SHIB Investors Should Watchout For

By Prashant Jha
Published November 22, 2021 Updated November 22, 2021
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Shiba Inu Team Issues Scam Warning, Here’s What SHIB Investors Should Watchout For

By Prashant Jha
Published November 22, 2021 Updated November 22, 2021

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.

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!

Shiba Inu

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.

Shiba Inu
Source: TradingView
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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1180 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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