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Exclusive: Shiba Inu Team Member Reveals Crucial Security Update for Community on cryptochronicle.xyz

Shiba Inu, known for its extensive community, has frequently been a target for scams exploiting the trust of its supporters. Consequently, the team has made it a routine to caution the community about various scams, with the latest warning coming from the admin, Da Vinci. New Token Scams Target Shiba Inu Community Shiba Inu community member @Digarch posted a warning on X (previously Twitter), alerting the SHIBArmy about potential new token scams. The post shared in the Discord group sheds light on how these scams aim to deceive the community.

Da Vinci detailed how these fraudulent tokens falsely claim to be associated with the Shiba Inu and Shibarium developers. Moreover, they exploit the Shiba State and Canine code to promote their scams to unsuspecting victims. “They have even gone to the extent of including the shib.io address in their videos to give credence to their deceitful schemes,” the post stated. The post also emphasized that due to the decentralized nature, the team cannot outright ban these tokens from its decentralized exchange (DEX). Nevertheless, they have advised Shiba Inu investors to exercise caution and conduct thorough research before investing in any token to avoid falling victim to scams. Another aspect of the Shiba Inu ecosystem being exploited is the TREAT tokens, although they have not yet been launched. Despite this, several fake TREAT tokens have surfaced, attempting to take advantage of the Shiba Inu community. Da Vinci warned, “We will not hesitate to express our strong disapproval of these scammers and their unethical practices. Stay informed and protect yourself.” SHIB Investors Coming Back To The Table Despite the warnings issued to the community, Shiba Inu is experiencing positive momentum in the market. This is particularly evident in its daily trading volume, which has surged by 37% in the last day, indicating a resurgence of positive sentiment among investors.

Additionally, SHIB continues to hold its position as the 11th-largest cryptocurrency in the market, trailing behind Toncoin and Cardano. However, despite the notable increase in daily trading volume, it has fallen behind newcomer Notcoin, which boasts the 6th-largest daily trading volume at $4.25 billion. At the time of writing, the SHIB price is hovering around $0.00002491, reflecting a 0.54% gain in the last day. According to CoinMarketCap data, the price has dropped by 2.08% in the last week but still shows a 9.6% increase on the monthly chart. SHIB price fails to break resistance | Source: SHIBUSDT on Tradingview.com

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