Crucial Anti-Scam Warning Comes From SHIB Team

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As a seasoned crypto investor with battle scars from navigating the treacherous waters of the decentralized world, I can’t help but appreciate the cautionary words from @DavinciShib regarding potential scams on Shibarium. My life experience has taught me that the crypto jungle is filled with predators lurking in the shadows, waiting to pounce on unsuspecting investors. The SHIB team’s anti-scam warning is a breath of fresh air in this wild frontier.

A representative from Shiba Inu‘s social media team, identified online as @DavinciShib, has cautioned the worldwide audience of the second-largest meme cryptocurrency, Shiba Inu, about potential frauds that might arise on the decentralized Shibarium network.

Davinci warned the SHIB army not to blindly begin investing in new projects that may join Shibarium and begin inviting users. He also bashed Solana as a network full of scam projects.

SHIB team’s anti-scam warning

Davinci commented on a potential meme cryptocurrency project that might appear on Shibarium. The SHIB Discord admin strongly advised the community be sure they “thoroughly research all the facts before jumping on board,” since not all third-party cryptos on Shibarium are likely to be trustworthy.

The admin warned that the bigger the Shibarium expansion, the more trash will attack it. He gave an example of the Solana (“Ethereum killer”) chain, saying that scams are an inevitable part of the crypto game: “i mean look at solana huge and absolutely crawling with scams it’s just how the game is played.”

SHIB burns spike 515%

Over the last day, it’s been disclosed that the burning rate of Shiba Inu coins has seen a substantial surge, climbing over 515%! This remarkable growth can be attributed to the community-led burns of SHIB tokens.

Yesterday, their combined actions resulted in the elimination of approximately 72 million SHIB tokens from circulation. As reported by Shibburn, a staggering 70.6 million SHIB coins were burned in a single transaction, rendering them unusable. Additionally, another significant chunk of around 1.7 million SHIB was sent to a non-accessible wallet.

SHIB follows Bitcoin price curve

Over the last several days, numerous cryptocurrencies have climbed out of a steep decline and are currently fluctuating within a specific price range, following the trend of Bitcoin’s price movement.

On December 10th, the world’s first cryptocurrency rallied following a dip to $94,500, reaching $102,500 but falling short of exceeding that level. It later made another attempt this week, but still hasn’t managed to surpass it. As I write this, Bitcoin is being traded at $101,662. On the other hand, Shiba Inu (SHIB) has climbed from $0.00002435 and is currently trading at $0.00002818, representing a 15.74% price jump.

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2024-12-14 15:28